Live cattle futures were in rally mode on Friday, with contracts up $2.425 to $3.975, as April was up $4.45 this week. Cash trade was light with a few $234-235 sales. Feeder cattle futures closed with gains of $4.12 to $8.07 on Friday, as May was up $10.275 on the week. The CME Feeder Cattle Index was back down 26 cents to $362.98 on March 26. 

CFTC data indicated large managed money speculators at a net long of 110,909 contracts in live cattle futures and options, a 4,294 contract increase over the week ending on 3/24, mainly via new longs. In feeder cattle, specs were a net long of 17,810 contracts, a 123 contract increase on the week ending on Tuesday.

Wholesale Boxed Beef prices were mixed in the Friday PM report, with the Chc/Sel back to a Choice premium at $3.10. Choice boxes were back up $3.12 to $392.97, while Select was $1.79 lower at $389.87. USDA estimated federally inspected cattle slaughter for this week at 520,000 head. That was up 17,000 head from last week but 88,580 head below the same week last year.  

Apr 26 Live Cattle  closed at $238.500, up $3.400,

Jun 26 Live Cattle  closed at $238.775, up $3.975,

Aug 26 Live Cattle  closed at $236.050, up $3.650,

Apr 26 Feeder Cattle  closed at $361.450, up $6.375,

May 26 Feeder Cattle  closed at $359.825, up $8.075,

Aug 26 Feeder Cattle  closed at $357.800, up $7.425,

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