Live cattle futures are trading with 67 cent to $1.90 gains on Thursday. Cash business has been relatively quiet this week, with some $208 bids showing up in NE. Wednesday morning’s Central Stockyards Fed Cattle Exchange online auction saw a sale one lot of the 1,628 head offered at $210 using the BidTheGrid™ method, with bids running $204-206.50. Feeder cattle are $1.22 to $2 higher, with expiring April up $3.475. The CME Feeder Cattle Index was back down 4 cents on April 15, with the average price at $288.03. The markets will be closed for Good Friday, with Thursday trade rounding out the week

This afternoon’s Cattle on Feed report from USDA is expected to show March placements up 3.4% from a year ago, with Marketings up 0.7%. April 1 cattle on feed inventory is estimated to be down 1.8% from last year. 

Export Sales data indicated a total of 17,470 MT beef sold in the week of April 10. That was a 7-week high. Japan was the top buyer of 7,700 MT, with 3,700 MT sold to South Korea. Shipments were a 3-week low at 14,615 MT. South Korea was the top destination of 5,600 MT, with 3,500 MT to Japan. 

Thursday morning’s USDA National Wholesale Boxed Beef report was higher, as the Chc/Sel was narrowed to $17.66. Choice boxes were $1.34 higher at $334.87/cwt, with Select up $2.82 to $317.21. Wednesday’s Federally inspected cattle slaughter was estimated at 123,000 head, with the weekly total at 357,000. That was 8,000 head above the previous week but down 11,140 head from the same week last year.

Apr 25 Live Cattle  are at $208.950, up $1.875,

Jun 25 Live Cattle  are at $203.325, up $1.250,

Aug 25 Live Cattle  are at $199.625, up $0.675,

Apr 25 Feeder Cattle  are at $293.425, up $3.475

May 25 Feeder Cattle  are at $286.375, up $1.975

Aug 25 Feeder Cattle  are at $290.675, up $1.225