Live cattle futures closed out the week with Thursday gains of $1.175 to $2.75, as June rounded out the short week with a $7.27 pop higher Cash trade picked up on Thursday, with sales of $208-210 in the South and $212 in the North. That would be up $4-6 from last week. Feeder cattle posted $1.42 to $2.45 gains, with expiring April up $3.40. May was up $8.145 this week. The CME Feeder Cattle Index was back up $5.54 on April 16, with the average price at $293.57. The markets will be closed on Good Friday.

This afternoon’s Cattle on Feed report from USDA showed March placements 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. 

Export Sales data indicated a total of 17,470 MT beef sold in the week of April 10. That was a 7-week high. Japan was the top buyer of 7,700 MT, with 3,700 MT sold to South Korea. Shipments were a 3-week low at 14,615 MT. South Korea was the top destination of 5,600 MT, with 3,500 MT to Japan. 

Thursday afternoon’s USDA National Wholesale Boxed Beef report was mixed, as the Chc/Sel was narrowed to $16.51. Choice boxes were 63 cents lower at $332.90/cwt, with Select up $2.00 to $316.39. The Thursday Federally inspected cattle slaughter was estimated at 120,000 head, with the weekly total at 477,000. That was 14,000 head above the previous week but down 9,297 head from the same week last year.

Apr 25 Live Cattle  closed at $209.825, up $2.750,

Jun 25 Live Cattle  closed at $204.075, up $2.000,

Aug 25 Live Cattle  closed at $200.125, up $1.175,

Apr 25 Feeder Cattle  closed at $293.350, up $3.400,

May 25 Feeder Cattle  closed at $286.850, up $2.450,

Aug 25 Feeder Cattle  closed at $290.875, up $1.425,