Cattle Lower, Despite Lower in Beef Stocks at the End of March

Live cattle futures are mostly lower on Tuesday, with nearby April up a nickel. Feeder cattle futures are steady to $1.45 lower. The CME feeder cattle index was down 14 cents to $145.97 on April 19. Wholesale boxed beef prices were higher on Tuesday morning. Choice boxes were up 25 cents at $234.73, with Select boxes 26 cents higher @ $222.90. USDA estimated Monday’s FI cattle slaughter at 114,000 head. The monthly Cold Storage report from NASS on Monday showed frozen beef stocks as of March 31 at 450.657 million pounds. That is down 4.92% from February and a 2.87% lower than last year.

Apr 19 Cattle closed at $128.550, up $0.050,

Jun 19 Cattle closed at $121.300, down $0.275,

Aug 19 Cattle closed at $118.350, down $0.425,

May 19 Feeder Cattle closed at $149.400, down $1.400

Aug 19 Feeder Cattle closed at $159.475, down $0.150

Sep 19 Feeder Cattle closed at $160.525, down $0.250

---provided by Brugler Marketing & Management

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