Cattle Rally with Cash on Friday

Live cattle futures were up 75 cents to $1.125 across most front months on Friday, with April rallying $2.90 on the week. Cash trade got kicked off across the country on Friday, with southern sale at $203 and Northern action at $205-206. Friday morning’s Fed Cattle Exchange online auction from Central Stockyards showed live sales at $203 KS, with $203.50-$204 sales using the BidTheGrid™ method. Feeder cattle were $1.125 to $1.75 higher in the nearbys at the Friday close. March was up 57 on the week. The CME Feeder Cattle Index was back up $1.47 on March 13, with the average price at $282.72. 

The Friday afternoon Commitment of Traders report indicated a total of 2,348 contracts added to the managed money net long in live cattle futures and options at 112,816 contracts as of Tuesday. For spec funds in feeder cattle, they were back at a net long of 30,184 contracts by March 11, a 1,304 contract increase on the week,

USDA’s National Wholesale Boxed Beef report from Friday afternoon saw weaker prices, as the Chc/Sel narrowed to $11.95. Choice boxes were down $1.53 at $318.27/cwt, with Select $1.15 lower at $306.32. Last week’s Federally inspected cattle slaughter was estimated at 587,000 head. That is 9,000 head above the previous week but 10,391 below the same week last year.

Apr 25 Live Cattle  closed at $203.175, up $1.125,

Jun 25 Live Cattle  closed at $199.350, up $1.075,

Aug 25 Live Cattle  closed at $196.700, up $0.750,

Mar 25 Feeder Cattle  closed at $281.975, up $1.750,

Apr 25 Feeder Cattle  closed at $281.200, up $1.225,

May 25 Feeder Cattle  closed at $282.650, up $1.125,