Cattle Falling Ahead of Cattle on Feed Report

Live cattle futures are posting $1.45 to $1.65 losses on Friday. Cash trade has picked up this week, with $248 sales across the country. The Friday morning Fed Cattle Exchange online auction showed no sales on the 1,222 head, with bids of $246-247. Feeder cattle futures are trading with contracts down $3.65 to $5.50 at midday. The CME Feeder Cattle Index was up $3.63 to $379.09 on April 15. 

The Thursday update from APHIS on the new world screwworm in Mexico showed a total of 1,295 active cases across the country. There was still 63 total active cases in the bordering state of Tamaulipas as of April 15, with 2 active cases in Nuevo Leon.

USDA will release their Cattle on Feed report on Friday afternoon, with March Placements estimated to be down 7.1% from a year ago, with marketings down 6.2%. April 1 on feed is estimated to be down 0.5%.

Wholesale Boxed Beef prices were lower in the Friday morning report, with the Chc/Sel at $3.86. Choice boxes were down 35 cents to $381.22, while Select was $1.12 lower at $377.36. USDA estimated federally inspected cattle slaughter at 104,000 head for Thursday, taking the weekly total to 429,000 head. That is up 4,000 head from last week but 47,286 head below the same week last year.  

Apr 26 Live Cattle  closed at $248.850, down $1.450,

Jun 26 Live Cattle  closed at $245.975, down $1.650,

Aug 26 Live Cattle  closed at $241.600, down $1.475,

Apr 26 Feeder Cattle  closed at $369.425, down $3.650,

May 26 Feeder Cattle  closed at $362.575, down $4.525,

Aug 26 Feeder Cattle  closed at $363.025, down $5.500,