Cattle Futures to Close the Week and Start the Month

The live cattle market ended the last trade day of the month with 60 to 95 cent losses. Despite that, April was still up by a net $4.65 for the month’s move. Feb cattle expired at $184 flat. Feeder cattle were down by triple digits on the last trade day of the month. April was still $7.57 higher for the month. USDA had Thursday’s cash sales between $181 and $184 citing the bulk of the action near $183. The CME Feeder Cattle Index was 54 cents weaker on 2/28 to $246.26. 

Export Sales data from the week of 2/22 had 12.2k MT of beef sales. That was a 3% drop wk/wk but was up 26% vs the 4-week average. USDA had Japan as the top buyer for the week. Shipments were 15.9k MT, for a yearly total of 117.4k MT (+8% yr/yr). 

USDA’s Boxed Beef prices were stronger on Thursday afternoon as Choice increased by $1.17 and Select was up by $1.24. FI cattle slaughter was 495k head for the week through Thursday, which compares to 472k head last week and 499.5k head during the same week last year. 

Apr 24 Cattle  closed at $185.350, down $0.775,

Jun 24 Cattle  closed at $181.225, down $0.950,

Aug 24 Cattle  closed at $180.700, down $0.600,

Mar 24 Feeder Cattle  closed at $249.000, down $0.600

Apr 24 Feeder Cattle  closed at $253.725, down $1.375