Cattle Higher at Midday

So far through the Thursday session, live cattle futures are 65 to 75 cents in the black. There were practically no bids in Thursday’s FCE auction. USDA reported some light cash trade from $138 - $140 and $219 - $225 live and dressed respectively in the North on Wednesday. The bulk of cash business has been near $138 for the limited activity reported. Feeder cattle are trading with midday gains of a dime to $1.75. The CME Feeder Cattle Index for 4/5 was 22 cents lower to $155.54. 

Weekly Export Sales data showed 14,030 MT of beef was sold during the week that ended 3/31. That was the lowest since the week of Jan 13. Shipments were 19,274 MT during the same week, Japan and South Korea were the top destinations. 

Wholesale Boxed Beef prices were higher in the AM report, with Choice up by 44 cents and Select 33 higher. That widened the spread to $10.10. USDA estimates the week’s FI cattle slaughter at 371k head through Wednesday. That is up 2,000 from last week and 25,000 from the same week last year. 

Apr 22 Cattle  are at $138.350, up $0.650,

Jun 22 Cattle  are at $134.800, up $0.575,

Aug 22 Cattle  are at $136.425, up $0.725,

Apr 22 Feeder Cattle  are at $157.300, up $0.200

May 22 Feeder Cattle  are at $160.550, up $0.600