Live Cattle Futures PricesFri, Apr 29th, 2016
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Live cattle futures closed the day 12.5 to 82.5 cents higher, after April was trading with daily gains of as much as $2.625 earlier in the session, and then expired at $123.10. Jun16 cattle were up 27.5 cents from the Friday before. Feeders finished mostly 52 to 70 cents higher, although May feeders were down 15 cents in their first day as the lead month. The May16 contract lost $2.02 on the week. Aug16 feeders hit a new life of contract low at $138.10 early this morning. The CME Feeder Cattle Index for 4/28 was down $1.38 to $144.30. Cash cattle trade had light demand on Friday, but recorded a few live sales from $123 to $124, and dressed sales from $188 to $192. Both categories are sharply lower from last week. Choice boxed beef prices were down $1.05 on Friday to $211.45 (-$8.86 Fri to Fri), and select boxes were 82 cents lower to $202.27 (-$8.42 Fri to Fri). Including Saturday estimates, FI cattle slaughter for the week was 590,000 head, up 3,000 head from last week, and 26,000 head larger than the same week in 2015. Beef production this week reached 485.8 million pounds.
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