Live cattle futures were $1.22 to $1.77 higher at the Friday close, to limit the weekly loss for April to $1.65. Cash trade this week has been centered around $246 across the country, with a few late sales of $248. Feeder cattle futures saw gains of $1 to $3.97 across the board on Friday, with April down $3.70. The CME Feeder Cattle Index was down 68 cents to $369.32 on April 23.
Monthly Cold Storage data showed 410.52 million lbs of beef stocks at the end of March, a 1.95% draw from February and 3.45% below last year.
Managed money trimmed back their net long position in live cattle futures and options by 1,847 contracts as of April 21, taking it to 134,795 contracts. In feeder cattle futures and options, specs cut back 2,371 contracts from their net long to 18,765 contracts.
Wholesale Boxed Beef prices were higher in the Friday afternoon report, with the Chc/Sel at premium for Choice of 93 cents. Choice boxes were up $3.50 to $387.00, while Select was $3.49 higher at $386.07. USDA estimated federally inspected cattle slaughter at 529,000 head for the week. That is down up 15,000 head from last week but 16,260 head below the same week last year.
Apr 26 Live Cattle closed at $248.300, up $1.225,
Jun 26 Live Cattle closed at $245.225, up $1.725,
Aug 26 Live Cattle closed at $241.650, up $1.500,
Apr 26 Feeder Cattle closed at $367.625, up $1.000,
May 26 Feeder Cattle closed at $360.900, up $2.025,
Aug 26 Feeder Cattle closed at $361.775, up $2.425,
