Fat cattle futures climbed back from midday lows and closed the Thursday session in the black. June fats were the strongest on the day with a triple digit gain. There were reports of $119 sales in TX. USDA noted cash sales through Wednesday, with limited activity from $117 to $119. Cash business could pick up today and tomorrow. Feeder cattle closed with triple digit losses of $1 to $1.92 in the front months. The 5/4 CME Feeder Cattle Index was down by 21 cents to $132.55.     

USDA’s weekly Export Sales report showed 16,928 MT of beef bookings during the week ending 4/29. Japan was the top buyer with 27% of the total. That was down 28% wk/wk, but was still 80% above the same week in 2020. USDA reported accumulated beef shipments at 301k MT through 4/29. 

Wholesale Boxed Beef prices were higher again on Thursday afternoon. Choice boxes were up another $1.59 to $306.37 and Select was up $3.18 to $289.36. Choice rib primals were quoted at $519.28. USDA estimated FI cattle slaughter for the week through Thursday at 470,000 head. That is 7,000 head below last week’s pace.  

Jun 21 Cattle  closed at $115.475, up $1.050,

Oct 21 Cattle  closed at $123.475, up $0.375,

May 21 Feeder Cattle  closed at $130.475, down $1.000

Aug 21 Feeder Cattle  closed at $143.400, down $1.825