Cattle Starting Off the Week with Gains

Live cattle futures are pushing higher, with most contracts up 75 to 95 cents. April is up $2.375 on First Notice Day. Cash trade took off last week, with sales at $245-246 across the country, up $8-10 from the previous week. Feeder cattle futures are moved, with contracts down a dime to up a dollar.  The CME Feeder Cattle Index was down 1 cent to $366.81 on April 1. 

The JBS strike in Greeley, Colorado is expected to conclude on Monday, with workers coming back on Tuesday as negotiations are still ongoing.

CFTC data from Friday showed managed money at a net long of 123,742 contracts in live cattle futures and options as of March 31, a 12,833 contract increase on the week. Specs in Feeder cattle futures and options added 2,301 contracts to their net long to 20,111 contracts.

Wholesale Boxed Beef prices were higher in the Monday morning report, with the Chc/Sel at 65 cents. Choice boxes were up $1.18 to $388.96, while Select was $2.12 higher at $388.31. USDA estimated federally inspected cattle slaughter for last week at 533,000 head. That was up 10,000 head from last week but 53,034 head below the same week last year.  

Apr 26 Live Cattle  are at $248.575, up $2.375,

Jun 26 Live Cattle  are at $247.275, up $0.950,

Aug 26 Live Cattle  are at $243.125, up $0.950,

Apr 26 Feeder Cattle  are at $372.800, down $0.100

May 26 Feeder Cattle  are at $370.975, up $0.350

Aug 26 Feeder Cattle  are at $370.500, up $1.000