No Deliveries on April Fats

The front month live cattle futures went home on Friday with 10 to 27 cent losses. The December contract held on to a 17 cent gain. The week’s cash market was mainly $138 in the South and $138-$140 in the North this week, with no April deliveries reported. Feeder cattle also reversed course during the afternoon, and closed 10 to 72 cents weaker – save for a 15 cent gain in April. The CME Feeder Cattle Index for 4/7 was up by 42 cents to $156.01.

Live cattle spec traders were selling through the week that ended 4/5. That weakened the group’s CFTC net long by 11,500 contracts via 3.8k closed longs and 7.6k new shorts. Spec fund firms were 40,264 contracts net long as of 4/5. CFTC also reported spec traders as net sellers in feeders, with 2,824 new shorts opened through the week ending 4/5. That extended their net short to 2,593. 

Wholesale Boxed Beef prices were weaker in the PM report. Choice boxes were 93 cents weaker to $270.47 and Select was $260.33 cwt. down by 89 cents. USDA estimated the week’s FI cattle slaughter at 676k head through Saturday. That was up by 37k head from last week and 34k head yr/yr. The YTD estimate was 9.061 million head, compared to 9 flat last year. 

Apr 22 Cattle  closed at $137.825, down $0.175,

Jun 22 Cattle  closed at $133.825, down $0.275,

Aug 22 Cattle  closed at $135.850, down $0.250,

Apr 22 Feeder Cattle  closed at $156.550, up $0.150

May 22 Feeder Cattle  closed at $159.375, down $0.100