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IPC Index — Mexico Market
Live cattle futures closed the Friday session with contracts down 40 cents to $1.02, as June was $7.77 on the week. Cash trade got kicked off early again this week, starting at $250-252 across the country and working up to $256-257 on Wednesday. Feeder cattle futures posted losses of 40 cents to $1.35 on Friday, fading back from the early session strength, as August was up $10.40 this week. The CME Feeder Cattle Index was up $1.56 to $374.03 on April 30.
Managed money increased their net long in live cattle futures and options by 1,796 contracts in the week ending on April 28, taking it to 136,591 contracts. In feeder cattle futures/options spec funds cut back 1,676 contracts from their net long to 17,089 contracts.
Wholesale Boxed Beef prices were lower in the Friday afternoon report, with the Chc/Sel at $2.06. Choice boxes were down 41 cents to $389.11, while Select was $1.12 lower at $388.05. USDA estimated federally inspected cattle slaughter for this week at 534,000 head. That is up 5,000 head from last week and 28,668 head below the same week last year.
Jun 26 Live Cattle closed at $253.000, down $1.000,
Aug 26 Live Cattle closed at $247.825, down $0.850,
Oct 26 Live Cattle closed at $242.450, down $1.025,
May 26 Feeder Cattle closed at $371.400, down $1.250,
Aug 26 Feeder Cattle closed at $372.175, down $1.350,
Sep 26 Feeder Cattle closed at $370.700, down $1.275,
