Cattle Futures Sell Off, Basis Goes Positive
Related Stocks
 LEM21 - Live Cattle

Live cattle futures closed the Friday session with losses of $0.72 to $2.45, with April the firmest and June the weakest. Through the week, the April/June spread corrected from a $2.25 discount to an 85 cent premium April. Long liquidation was noted on Friday, with preliminary open interest dropping 3,102 contracts. USDA confirmed some more $125 trade in the WCB on Friday, for the week cash trades ranged $120 - $125 with the bulk near $123. Feeder cattle futures closed Friday with $1.45 to $2.37 losses. The CME Feeder Cattle Index was up 28 cents on 4/6 at $139.98.     

Wholesale Boxed Beef prices were higher on Friday, adding $1.67 to Choice at $272.17. Select boxes were up 24 cents to $264.07 cwt. USDA’s estimate for the week’s FI cattle slaughter is 641,000 head.

Apr 21 Cattle  closed at $123.425, down $0.725,

Aug 21 Cattle  closed at $122.400, down $1.625,

Apr 21 Feeder Cattle  closed at $144.750, down $2.375

May 21 Feeder Cattle  closed at $149.625, down $1.975

Market Commentary provided by:

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