Live cattle futures are mixed at midday, with the front months down 12 to 25 cents and other contracts 7 to 62 cents higher. Cash action has been quiet so far this week. The Central Stockyards Fed Cattle Exchange saw no sales on the 1,376 head listed this morning, with bids at $180-182 and asks still at $184. Feeder cattle are rallying at midday, with gains of $1.22 to $2.10. The CME Feeder Cattle index was $1.27 higher on April 16 to $242.63. 

Export Sales data showed an improved 17,745 MT of beef export bookings for the week of 4/11. Shipments were at a MY high of 16,702 MT, with 4,700 MT to Japan and 4,600 MT to South Korea.

Cattle on Feed data will be released on Friday, with the trade expecting to see March placements down 7% from a year ago. Marketings during the month are projected to be 11.9% lower vs. March 2023.  April 1 on feed inventory is seen up 2.1% from last year. 

USDA’s Wholesale Boxed Beef prices were lower again in the Thursday AM report. Choice boxes were down another 71 cents to $296.10, with Select $1.50 lower to $289.38. That took the Chc/Sel spread to $6.72. Wednesday’s USDA estimated cattle slaughter was pegged at 124,000, taking the week to date total to 369,000 head. That is up 11,000 head from the previous week and down 7,567 head from the same week last year. 

Apr 24 Live Cattle  are at $180.975, up $0.075,

Jun 24 Live Cattle  are at $175.200, down $0.125,

Aug 24 Live Cattle  are at $173.325, up $0.550,

Apr 24 Feeder Cattle  are at $241.700, up $1.275

May 24 Feeder Cattle  are at $242.375, up $2.100

Aug 24 Feeder Cattle  are at $254.225, up $2.100