Live cattle futures are up 67 cents to $1.05 at midday. Cash trade has yet to get kicked off this week, with bids at midday of $238-242. The Thursday morning Fed Cattle exchange showed no sales on the 1,016 head offered, with limited bids of $238-239.50. Feeder cattle futures are trading with 70 cent to $1.25 in the front months. The CME Feeder Cattle Index was up 89 cents to $366.82 on March 31. Thursday will be the last trade day for the week as the markets are off for Good Friday.
Beef export sales in the week of 3/26 showed a total of 11,886 MT booked, a 3-week high. Shipments in that week were 13,630 MT, back down from last week.
Census data converted to a carcass basis showed beef exports at 183.6 million pounds in February, a 10-year low for the month and 6% below January.
Wholesale Boxed Beef prices were lower in the Thursday morning report, with the Chc/Sel at $2.75. Choice boxes were down $3.99 to $390.43, while Select was $4.91 lower at $387.68. USDA estimated federally inspected cattle slaughter for Wednesday at 107,000 head, with the weekly total at 324,000 head. That is up 9,000 head from last week but 45,169 head below the same week last year.
Apr 26 Live Cattle are at $245.100, up $1.050,
Jun 26 Live Cattle are at $245.150, up $0.800,
Aug 26 Live Cattle are at $241.350, up $0.675,
Apr 26 Feeder Cattle are at $371.450, up $0.700
May 26 Feeder Cattle are at $369.250, up $1.250
Aug 26 Feeder Cattle are at $368.025, up $1.175
