Live cattle futures were $3.10 to $3.55 lower across the front months on Tuesday. The June contract bumped against the 100-day moving average for the session low – which was the weakest print since late January. Feeders also fell by as much as 2.13% across the front months with $5 losses. USDA had no cash activity for the week through Tuesday, last week’s cash trade was mostly near $188 in the South and mostly near $190 in the North. Those prices are now well above April futures. The CME Feeder Cattle Index for 3/25 was 7 cents weaker to $251.63.  

USDA’s Wholesale Boxed Beef prices were mixed on Tuesday with Choice 20 cents stronger to $311.09, while Select was $1.70 weaker to $300.26. Tuesday’s FI cattle slaughter was 125k head, for a weekly total of 243k head. That compares to 242k head last week and 250k head for the same week last year. 

Apr 24 Cattle  closed at $183.100, down $3.100,

Jun 24 Cattle  closed at $178.375, down $3.225,

Aug 24 Cattle  closed at $176.425, down $3.550,

Mar 24 Feeder Cattle  closed at $247.725, down $1.725

Apr 24 Feeder Cattle  closed at $245.450, down $5.000