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Cattle Close Mixed

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April cattle extended the gains by another $2.30 on Wednesday, but the Jun and Aug contracts closed with $0.70 and $1.07 losses respectively. Feeder cattle futures were also mixed, with near expiration March feeders $1.85 higher at the close. The other nearbys finished $0.40 to $1.35 lower. The March 24th CME Feeder Cattle Index was $5.21 higher to $123.44. The Fed Cattle Exchange online auction sold 2,451 of the 5,886 head listed. The weighted average of sales was $118.51, with some as high as $120 and $120.5. USDA reported some cash trades in the South and NE at $119 - $120, with the bulk at $120. Wholesale boxed beef prices were lower on Wednesday. Choice boxes were $1.01 lower, and Select boxes were down by $2.39. The Chc/Sel spread is $12.21. Estimated cattle slaughter under federal inspection is at 361,000 head through Wednesday. That is 2,000 head above both last week, and the same week last year’s pace.

Apr 20 Cattle closed at $108.450, up $2.300,

Jun 20 Cattle closed at $96.325, down $0.700,

Aug 20 Cattle closed at $97.175, down $1.075,

Mar 20 Feeder Cattle closed at $132.075, up $1.850

Apr 20 Feeder Cattle closed at $128.725, down $1.350

May 20 Feeder Cattle closed at $129.100, down $0.400

--- provided by Brugler Marketing & Management

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