Live cattle futures closed steady to 75 cents higher on Friday, with June up $4.175 last week. Friday’s preliminary open interest was up 1,908 contracts Cash trade was delayed until Friday, with the South coming in at $212-213, up $2-3 from last week. Northern trade was up to $217-218, $4-5 higher on the week. Feeder cattle futures were higher again on Friday, with gains of $1.45 to $1.80, as May saw a $3.675 pop on the week. The CME Feeder Cattle Index was down $1.64 on April 24, with the average price at $289.88.

Over the weekend USDA Secretary Rollins sent a letter to Mexico’s government threatening to restrict live animal imports into the US if the country doesn’t fully cooperate to stop the spread of New World Screwworm. She is giving them until April 30 to make some requested changes or imports will be restricted.

Managed money was adding 13,937 contracts to their net long in the week ending on April 22 to 120,460 contracts in live cattle futures and options. In feeder cattle, they increased their net long by 2,146 contracts to 28,061 contracts. 

USDA’s Friday afternoon National Wholesale Boxed Beef report was higher, as the Chc/Sel was at $16.37. Choice boxes were $2.78 higher at $336.48/cwt, with Select up $3.76 to $320.11. Federally inspected cattle slaughter was estimated at 555,000 head last week. That is 21,000 head below the week prior and down 58,723 head from the same week last year.

Apr 25 Live Cattle  closed at $214.250, up $0.750,

Jun 25 Live Cattle  closed at $208.250, up $0.250,

Aug 25 Live Cattle  closed at $204.100, unch,

May 25 Feeder Cattle  closed at $290.525, up $1.450,

Aug 25 Feeder Cattle  closed at $294.300, up $1.600,

Sep 25 Feeder Cattle  closed at $293.550, up $1.775,