Live cattle futures crept lower into Friday’s close, as front months were down 70 to 95 cents. Cash trade was slow to develop this week, with most action settling in at $209-210 in the South and $213-214 in the North. Dressed trade was $335-345 in the North. Feeder cattle futures were slipping to round out the week, with contracts down 60 cents to $1.35. The CME Feeder Cattle Index was back down 86 cents on March 27, with the average price at $286.76. 

Commitment of Trader data from Friday indicated a total of 17,717 contracts added to the net long in live cattle futures and options as of March 25. That took the net long to 137,892 contracts. Speculators in Feeder cattle continue to build their record net long, up another 2,935 contracts to 34,132 contracts as of Tuesday.

The National Wholesale Boxed Beef report from USDA was lower on Friday afternoon, as the Chc/Sel narrowed to $14.14. Choice boxes were down $2.90 at $332.82/cwt, with Select up 76 cents to $318.68. This week’s Federally inspected cattle slaughter was estimated at 609,000 head by USDA. That was 49,000 head above the previous week and up 26,791 head from the same week last year.

Apr 25 Live Cattle  closed at $208.825, down $0.725,

Jun 25 Live Cattle  closed at $204.850, down $0.950,

Aug 25 Live Cattle  closed at $201.000, down $0.800,

Apr 25 Feeder Cattle  closed at $286.925, down $0.625,

May 25 Feeder Cattle  closed at $285.175, down $1.350,

Aug 25 Feeder Cattle  closed at $289.675, down $0.975,