Feeder Cattle Futures Market News and Commentary
On Monday the cattle futures market ended mixed. Fat cattle futures were down 2 to 70 cents, with the sharper losses in spring months. Feeder cattle futures, on the other hand, were mostly higher capturing the weakness from corn prices. Feeders closed 7 to 62 cents higher on the board, save for a 25 cent drop in April contracts. Cash cattle sales for the week are yet to be established, trade last week was mostly $123+. The CME Feeder Cattle Index was up 65 cents on 4/8 to $141.91.
Wholesale Boxed Beef prices were mixed on Monday, tightening the Chc/Sel spread to $5.25. Choice boxes were down $0.76 to $271.41 and Select was up by $2.09. USDA’s estimate for Monday’s FI cattle slaughter is 112,000 head.
Apr 21 Cattle closed at $122.725, down $0.700,
Aug 21 Cattle closed at $121.950, down $0.450,
Apr 21 Feeder Cattle closed at $144.500, down $0.250
May 21 Feeder Cattle closed at $149.700, up $0.075