Anton Coop -

Live cattle futures posted Friday losses of $5.42 to the $6.50 limit,, as April was down $6.20 on the week. Monday will have expanded limits of $9.75. Cash trade was reported at $208 in the South this week, down $1-2 from last week. Northern sales have been steady to down $1 to $212-213.  Feeder cattle futures were down $5.97 to the $8.25 limit on Friday, as April was $7.50 lower this week. Monday will have expanded limits of $12.25.  The CME Feeder Cattle Index was back up 2 cents on April 2, with the average price at $291.95. 

In response to President Trump’s reciprocal tariffs, China issued a retaliatory tariff of 34% on all US goods overnight. That put some pressure on the market, as well as spill over from the stock market collapse.

Commitment of Trader data from Friday indicated a total of 4,885 contracts added to the net long in live cattle futures and options as of April 1. That took the net long to 142,777 contracts. Speculators in Feeder cattle were peeling back record net long by 763 contracts to 33,369 contracts as of Tuesday.

USDA’s National Wholesale Boxed Beef report on Friday afternoon was mixed, as the Chc/Sel widened to $21.27. Choice boxes were back up 8 cents at $338.45/cwt, with Select 66 cents lower to $317.18. This week’s Federally inspected cattle slaughter was estimated at 591,000 head. That was 16,000 head below the previous week and down 23,045 head from the same week last year.

Apr 25 Live Cattle  closed at $202.625, down $5.425,

Jun 25 Live Cattle  closed at $198.200, down $6.500,

Aug 25 Live Cattle  closed at $194.700, down $6.475,

Apr 25 Feeder Cattle  closed at $279.425, down $5.975,

May 25 Feeder Cattle  closed at $274.875, down $8.250,

Aug 25 Feeder Cattle  closed at $281.050, down $8.250,