Thursday’s cattle trade pushed futures back up by $1.40 to $1.57. For the June contract that ended the week a net $2.65 lower after bouncing off the Bollinger midline. June fats were a net 97c weaker through the month of March, after a wide monthly range from -$4.80 to +$5.40. USDA reported Thursday cash trade from $184 to $189, but cited the bulk of action ~$2 lower wk/wk at $186. 

Feeder cattle futures finished Friday with 25 to 92 cent gains. For May, that only limited the week’s pullback to $5.07with the 4th consecutive weekly drop. May feeders were down a net $7.42 for the month of March. March futures rolled off the board at $247.75, vs the CME index at $248.99 on 3/27. 

Weekly beef bookings were shown at 12,700 MT for the week that ended 3/21. That was up 15% wk/wk and was 4% over the 4-wk average. USDA had shipments totaling 177,794 MT, which remains 6.4% ahead of last year’s pace. 

Thursday’s PM Boxed Beef prices $308.36 in Choice, down by 22 cents, and were $301.17 in Select after a $2.74 increase. The ribs were shown at $469.26 and $451.94 respectively. The week’s FI cattle slaughter was 483k head through Thursday. That is running 8k head ahead of last week’s pace but 18k head under the same week last year. 

Apr 24 Cattle  closed at $185.000, up $1.400,

Jun 24 Cattle  closed at $180.250, up $1.575,

Aug 24 Cattle  closed at $178.200, up $1.525,

Mar 24 Feeder Cattle  closed at $247.750, down $0.300

Apr 24 Feeder Cattle  closed at $247.125, up $0.250