Live cattle futures put on a rally after starting out the day with losses, as contracts were up $2.40 to $2.80 higher. Cash trade has been slow this week, with light sales at $213 in the north reported. The Central Stockyards Fed Cattle Exchange online auction showed no sales on the 1,328 head listed again on Thursday morning and bids of $205-206.50. Feeder cattle futures also shrugged off the early morning losses, closing up 85 cents to $1.70 in the front months. The CME Feeder Cattle Index was back up 77 cents on March 26, with the average price at $287.67. 

Export Sales data totaled beef bookings at just 7,977 MT in the week of 3/20. South Korea was the buyer of 3,300 MT, with 1,800 MT sold to Japan. Export shipments were at 14,067 MT, down 9.23% from the week prior. The top destination was South Korea at 4,000 MT, with 3,500 MT shipped to Japan and 2,400 MT to China. 

USDA’s National Wholesale Boxed Beef report was mixed on Thursday afternoon, as the Chc/Sel narrowed to $16.28. Choice boxes were down $2.58 at $335.72/cwt, with Select up $2.91 to $319.44. The Thursday Federally inspected cattle slaughter was estimated at 119,000 head by USDA, taking the week to date total to 485,000 head. That is 45,000 head above the previous week and up 4,764 head from the same week last year.

Apr 25 Live Cattle  closed at $209.550, up $2.475,

Jun 25 Live Cattle  closed at $205.800, up $2.775,

Aug 25 Live Cattle  closed at $201.800, up $2.450,

Mar 25 Feeder Cattle  closed at $287.650, up $0.850,

Apr 25 Feeder Cattle  closed at $287.550, up $1.675,

May 25 Feeder Cattle  closed at $286.525, up $1.350,