Live cattle futures were pushing higher on Friday, with gains of $1.60 to $1.65 in the front months. June was down $1.40 on the week. Cash trade was limited this week, with $208 reported in the north, with some $204 in the South. Friday morning’s Central Stockyards Fed Cattle Exchange showed sales on 685 of the 1,450 head offered, at $204-206 in the South. Feeder cattle futures closed the Friday session with contracts up $2.40 to $3.75, with April rising $5.75 this week. The CME Feeder Cattle Index was down another $1.16 on April 10, with the average price at $286.13.

Managed money was slashing 24,274 contracts from their net long in live cattle futures and options as of April 8 taking it to 118,503 contracts. In feeder cattle futures and options spec traders were cutting back 5,332 contracts from their net long contracts to 28,037 contracts. 

USDA’s National Wholesale Boxed Beef prices were lower in the Friday PM report, as the Chc/Sel widened back out to $20.26. Choice boxes were down 7 cents at $334.22/cwt, with Select $1 lower to $313.96. This week’s Federally inspected cattle slaughter was estimated at 564,000 head. That was 27,000 head below the previous week and down 33,882 head from the same week last year.

Apr 25 Live Cattle  closed at $202.475, up $1.625,

Jun 25 Live Cattle  closed at $196.800, up $1.600,

Aug 25 Live Cattle  closed at $193.850, up $1.650,

Apr 25 Feeder Cattle  closed at $285.175, up $2.400,

May 25 Feeder Cattle  closed at $278.700, up $3.400,

Aug 25 Feeder Cattle  closed at $283.675, up $3.750,