Negotiated cash fed cattle trade and demand were moderate in the Texas Panhandle through Thursday afternoon, according to the Agricultural Marketing Service. FOB live prices were $4 higher at $208/cwt.
Elsewhere, trade was limited on light-to-moderate demand with too few transactions to trend. However, private sources were reporting higher prices in the North, too.
Last week, FOB live prices were $204 in Kansas and $208 in the North, where dressed delivered prices were $327-$328.
Choice boxed beef cutout value was 63¢ lower Thursday afternoon at $332.90/cwt. Select was $2.00 higher at $316.39.
Cattle futures continued higher Thursday, supported by higher cash fed cattle prices.
Toward the close, Live Cattle futures were an average of 92¢ higher (12¢ higher toward the back to $2.67 higher in spot Apr), except for 25¢ lower in away-Aug.
Feeder Cattle futures were an average of $1.50 higher (22¢ higher toward the back to $3.37 higher in spot Apr), except for an average of 9¢ lower in the back two contracts.
Grain and Soybean futures were mainly lower Thursday, with likely profit taking and positioning ahead of the long weekend.
Toward the close and through Sep ’25 contracts, Corn futures fractionally lower to 1¢ lower. Kansas City Wheat futures were mostly 1¢ to 3¢ lower. Soybean futures were mostly 2¢ to 3¢ lower.
******************************
Major U.S. financial indices closed mixed Thursday, pressured by tech and health care.
The Dow Jones Industrial Average closed 527 points lower. The S&P 500 closed 7 points higher. The NASDAQ was down 20 points.
Through midafternoon, West Texas Intermediate Crude Oil futures (CME) were $1.77 to $1.98 higher through the front six contracts.
******************************
Depending on what the trade factored in, Thursday’s monthly Cattle on Feed report might be viewed as a touch bearish with more placements than expected.
Feedlots with 1,000 head or more capacity placed 1.8 million head in March, which was 89,000 head more (5.1%) than the previous year and 1.4% more than expectations ahead of the report.
In terms of placement weights, 34% went of feed weighing less than 699 lbs., 54% weighing 700-899 lbs. and 12% weighing 900 lbs. or more.
Marketings in March of 1.7 million head were 18,000 head more (1.1%) than a year earlier, slightly more than pre-report expectations.
Cattle on feed April 1 of 11.6 million head were 188,000 fewer (-1.6%) than the previous year, which was in line with expectations.
The inventory included 7.3 million steers and steer calves, down slightly from the previous year. Heifers and heifer calves accounted for 4.4 million head, down 4% from the same time in 2024.