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Live cattle futures closed with contracts 27 cents to $2 higher at the close, as April was up $5.57 for the week. Cash trade saw some light trade at $246 in the South early this week with some northern action near $250 this morning. Feeder cattle futures posted gains of $1.62 to $2.32 at the Friday close, with April $1.25 higher on the week. The CME Feeder Cattle Index was back up $2.57 to $366.67 on April 9.
CFTC data from this afternoon showed managed money at a net long of 133,265 contracts in live cattle futures and options as of April 7, a 9,523 contract increase on the week. Specs in Feeder cattle futures and options added just 91 contracts to their net long to 20,202 contracts.
Wholesale Boxed Beef prices were lower in the Friday afternoon report, with the Chc/Sel still at an inverted 44 cents. Choice boxes were down 19 cents to $380.90, while Select was 23 cents lower at $381.34. USDA estimated federally inspected cattle slaughter this week at 512,000 head. That was down 21,000 head from last week and 41,972 head below the same week last year.
Apr 26 Live Cattle closed at $251.775, up $2.000,
Jun 26 Live Cattle closed at $249.200, up $2.000,
Aug 26 Live Cattle closed at $244.750, up $1.400,
Apr 26 Feeder Cattle closed at $374.150, up $1.625,
May 26 Feeder Cattle closed at $372.350, up $1.925,
Aug 26 Feeder Cattle closed at $372.450, up $2.325,
