Follow through selling on Tuesday left the board $0.32 to $1.17 in the red. A trend for cash cattle business is not established for the week. There was some light $121 trade in TX. The Central Stockyards FCE auction has 3,643 head listed for this morning. The stronger basis has dried up delivery notices against April futures. Feeder cattle futures closed $2.05 to $2.42 weaker. The CME Feeder Cattle Index was up 30 cents on 4/12 to $141.91.
Wholesale Boxed Beef prices were mixed again on Tuesday, tightening the Chc/Sel spread to $3.57. Choice boxes were down $1.30 and Select boxes were another 38 cents stronger. USDA’s estimate for Tuesday’s FI cattle slaughter is 116,000 head, leaving the week’s total at 228,000 head.
Apr 21 Cattle closed at $122.400, down $0.325,
Aug 21 Cattle closed at $120.900, down $1.050,
Apr 21 Feeder Cattle closed at $142.450, down $2.050
May 21 Feeder Cattle closed at $147.325, down $2.375
