Limited Cash Market Led Fats Under 140

Front month fat cattle futures ended the midweek session down $0.40 to $1.50. Feeder cattle, on the other hand, held on to gains despite a late session retreat and went home 2 to 45 cents in the black. May contracts were the exception, having ended on a 2 cent loss. The weekly FCE auction from Central Stockyards resulted in no sales for the 1,352 head listed. Bids were stuck near $138, with some $140, while feedlots were seeking $140-$141. CUSDA reported very light and wide ranging cash trade in KS on Wednesday, from $138 to $141, though it was not sufficient for a market test. The CME Feeder Cattle Index was up by 50 cents on 3/14 to $152.81.  

Wholesale Boxed Beef prices were higher in the PM report, with an 18 cent increase to Choice and a $1.43 boost in Select. USDA figured the week’s FI cattle slaughter at 375k head for the week through Wednesday, matching last week’s pace. 

Apr 22 Cattle  closed at $139.350, down $1.500,

Aug 22 Cattle  closed at $136.500, down $0.800,

Apr 22 Feeder Cattle  closed at $162.625, up $0.025

May 22 Feeder Cattle  closed at $167.275, down $0.025