Cattle Down on COF But Cutouts Higher

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 ignored the COF with its 2% more cattle on feed and 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 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. ---provided by Brugler Marketing & Management




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