Cattle Fall Triple Digits
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 LEM21 - Live Cattle
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GFK21137.450s+0.700+0.51%
GFQ21150.500s-0.025-0.02%

While grains had a rally Thursday, livestock were left out. Fat cattle futures closed with triple digit losses of $0.97 to $1.45. Feeders were $2.57 to $3.55 lower in the front months at the close. Cash cattle trading this week remains light, with reported sales so far from $119 - $120 in the South. Northern dressed deals have been mostly $192 for the week so far. The April 20 CME Feeder Cattle Index was another 15 cents weaker at $138.33.     

Export Sales data show 24,608 MT of beef were sold during the week ending 4/15. That was a 5-wk high for sales and was 21% above the same week last year. USDA reported beef exports during the week were 19,501 MT, pushing accumulated beef exports to 8% above 2020’s pace at 264,683 MT shipped YTD.

The monthly Cold Storage report showed March beef stocks were tighter than Feb levels at 483.65m lbs. That was also 3.7% below March 2020, after Feb stocks were 3.6% above Feb 2020. All meat inventory was the tightest for the month since 2014.

Wholesale Boxed Beef prices were again stronger on Thursday as Choice boxes were up $1.85 to $282.31, and Select boxes were $1.81 stronger at $273.69. USDA’s estimate for federally inspected cattle slaughter is 478,000 head through Thursday. That is up 21k head wk/wk.  

Apr 21 Cattle  closed at $118.325, down $1.450,

Aug 21 Cattle  closed at $116.725, down $1.250,

Apr 21 Feeder Cattle  closed at $132.250, down $2.850

May 21 Feeder Cattle  closed at $137.025, down $2.575




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