Cattle Lower After Last Week’s COF Report

Live cattle futures were down 80 cents to $1.10 on Monday, with front month April down a tick. This was fallout from the Cattle on Feed report. Feeder cattle futures were 72.5 cents to $1.425 lower on Monday. The CME feeder cattle index was down 14 cents to $145.97 on April 19. Wholesale boxed beef prices were higher on Monday. Choice boxes were up 83 cents at $234.48, with Select boxes $2.15 higher @ $222.64. USDA estimated Monday’s FI cattle slaughter at 114,000 head. The monthly USDA Cattle on Feed report showed the largest April 1 On Feed since the reporting series began in 1996. Numbers were up 2% from 2018, with March placements 4.8% larger than the same month a year ago. The monthly Cold Storage report from NASS 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 $128.500, down $0.025,

Jun 19 Cattle closed at $121.575, down $1.100,

Aug 19 Cattle closed at $118.775, down $0.975,

May 19 Feeder Cattle closed at $150.800, down $0.725

Aug 19 Feeder Cattle closed at $159.625, down $1.050

Sep 19 Feeder Cattle closed at $160.775, down $1.300

---provided by Brugler Marketing & Management

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