Live cattle futures came out of the weekend with stronger traders early but slipping to close with 5 to 35 cent losses. Cash trade from last week was reported at $208-210 in the South and $212-214 in the North. Feeder cattle futures posted losses of $1.25 to $1.75. The CME Feeder Cattle Index was back down $3.12 on April 18, with the average price at $289.30. The Monday afternoon OKC feeder cattle auction showed 1,582 head for sale, with sales listed as steady. 

Thursday afternoon’s Cattle on Feed report from USDA showed March placements up 5.08% from last year at 1.841 million head. March marketings were up 1.05% at 1.725 million head. April 1 cattle on feed inventory was down 1.59% to 11.638 million head. A breakdown on steers and heifers was released this month, with 4.38 million head of heifers in feed, which is 37.64% of the total and the lowest out of the last 5 years. 

CFTC data showed spec funds in live cattle futures and options trimming another 11,980 contracts from their net long positions as of Tuesday to 106,523 contracts. Managed money cut another 2,122 contracts from their net long in feeder cattle futures and options, to 25,915 contracts by April 15.

The Monday afternoon USDA National Wholesale Boxed Beef report was back higher, as the Chc/Sel was narrowed to $14.75. Choice boxes were $2 higher at $333.52/cwt, with Select up $3.22 to $318.77. Federally inspected cattle slaughter was estimated at 100,000 head for Monday. That was 12,000 head below the previous Monday and down 12,211 head from the same week last year.

Apr 25 Live Cattle  closed at $209.775, down $0.050,

Jun 25 Live Cattle  closed at $203.750, down $0.325,

Aug 25 Live Cattle  closed at $200.000, down $0.125,

May 25 Feeder Cattle  closed at $285.525, down $1.325,

Aug 25 Feeder Cattle  closed at $289.150, down $1.725,

Sep 25 Feeder Cattle  closed at $288.000, down $1.575,