The Thursday cattle complex is down triple digits reflecting the limit rally in corn. Fats are down $0.95 to $1.12. Cash sales so far have been $119 - $120 in the South. Northern dressed deals were light, but at $192 on Wednesday. Feeder cattle futures are down $2.57 to $4.40. The April 20 CME Feeder Cattle Index was another 15 cents weaker at $138.33.     

Export Sales data show 24,608 MT of beef were sold during the week ending 4/15. That was a 5-wk high for sales and was 21% above the same week last year. South Korea and Japan were the top buyers on the week, and China booked 3,100 MT as well. USDA reported beef exports during the week were 19,501 MT with those same three nations as the top destinations. Accumulated beef exports are now 8% above 2020’s pace with 264,683 MT shipped YTD.

Wholesale Boxed Beef prices were again stronger on Thursday morning, with a 93 cent bump for Choice and a $2.91 increase to Select. USDA estimates the week’s cattle slaughter at 360,000 head through Wednesday. That compares to 343,000 head from last week, and from 258,000 head LY – although the packer shutdowns were just beginning to show up in the data. 

Apr 21 Cattle  are at $118.400, down $1.375,

Aug 21 Cattle  are at $117.175, down $0.800,

Apr 21 Feeder Cattle  are at $132.775, down $2.325

May 21 Feeder Cattle  are at $135.950, down $3.650