Live cattle futures posted 65 cent to $2.15 gains on Thursday, with April $7.70 higher on the week. Thursday’s open interest was down 3,156 contracts, mainly in the April contract. Cash trade took off last week, with sales at $245-246 across the country, up $8-10 from the previous week. 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 were $2.15 to $2.77 cents in the green at the close, as May was up $11.45 this week. The CME Feeder Cattle Index was down 1 cent to $366.81 on April 1.
The JBS strike in Greeley, Colorado is expected to conclude on Monday, with workers coming back on Tuesday as negotiations are still ongoing.
