Cattle Market Sees Strong Export Demand

Cattle futures closed the expanded limits lower on Thursday. April options expire today, with a huge range of pin candidates in play. Feeder futures were down the expanded limits of $6.75 on Thursday. The April 1 CME Feeder Cattle Index was $126.09, down by $3.73. There were no cash trades reported on Thursday, this week’s cash market has had limited activity around $112 - $113. Beef sales for the week ending March 26 were 18,231 MT. Accumulated beef exports total 210,579 MT through the first 13 week’s which was 28.9% ahead of last year’s pace. February beef exports from Census were 257 million lbs, which was a record for Feb, and 4.9% above Jan shipments. Afternoon boxed beef prices were lower again on Thursday. Choice boxes were down by $2.53 to $232.64 cwt. and Select boxes were $222.12 cwt., down by $3.01. Federally Inspected cattle slaughter through Thursday was estimated at 467,000 head. That was 17,000 head behind last week and 15,000 head behind the same week last year.

--- provided by Brugler Marketing & Management




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