Live cattle futures experienced losses between $1.45 and $1.65 on Friday, with cash trade reaching $248 across the U.S. The Fed Cattle Exchange auction reported no sales for 1,222 head, with bids ranging from $246 to $247. Feeder cattle futures fell by $3.65 to $5.50 at midday, while the CME Feeder Cattle Index rose by $3.63, reaching $379.09 as of April 15.
The USDA is set to release its Cattle on Feed report on Friday afternoon, projecting March placements down 7.1% and marketings down 6.2% from the previous year. As of April 15, USDA reported a federally inspected cattle slaughter of 104,000 head for Thursday, totaling 429,000 for the week—4,000 head more than last week, yet 47,286 head fewer compared to the same week last year.
In other news, APHIS reported 1,295 active cases of the new world screwworm in Mexico, including 63 in Tamaulipas and 2 in Nuevo Leon.
