Friday markets
“The livestock complex rounded out the week on a lower note as traders simply weren’t confident the market actually possessed enough support to push the contracts any other direction other than lower,” wrote ShayLe Stewart, DTN livestock analyst, in her closing comments.
Live cattle futures were lower, down 35 cents on the April contract to $249.95 and down 27 cents on the June contract to $247.35.
Cash trade for the day totaled about 35,000 head. Live steers sold from $246-249, and dressed steers sold from $385-388. Total cash trade for the week through the afternoon totaled about 87,000 head.
Slaughter for the day is estimated at 77,000 head, compared to 83,000 head a week earlier. With tomorrow’s slaughter projected at 8,000 head, total slaughter for the week is expected at 514,000 head, compared to 512,000 head a week earlier.
Boxed beef prices were lower on 92 loads. The Choice cutout lost 51 cents to close at $381.06, and the Select cutout lost $1.88 to close at $376.60.
“All in all it was a disappointing day for the live cattle complex—except for this afternoon’s Cattle on Feed report, which was found to be mostly bullish, as anticipated,” Stewart said.
As of April 1, the number of cattle and calves on feed totaled 11.6 million head, 1% below last year. Placements were 7% lower than last year, and marketings were 6% lower. Other disappearance totaled 50,000 head, 9% below 2025.
Feeder cattle
Feeder cattle futures were lower, down $1.75 to $371.32 on the April contract and down $1.82 to $365.27 on the May contract.
The CME Feeder Cattle Index was lower, down $1.42 to $377.67.
Corn futures were mixed, up 2 cents on the May contract to $4.48 and down 2 cents on the July contract to $4.57. — Anna Miller Fortozo, WLJ managing editor
