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Live cattle futures rose sharply again on Friday, up $1.575 to $2.50. April expired today at $138.00 catching up with cash trade. Over the week June was 6.28% higher, rising 11.86% on the month of April. Feeder Cattle futures finished $2.775 to $4.35 higher, after Thursday’s limit up trade. May feeders were up 7.4% on the week and 12.7% in April. The CME feeder cattle index was at $141.38 on 4/27, up $1.52 from the previous day. Wholesale beef prices were sharply higher in the afternoon report. Choice boxes averaged $221.78, up $2.63, with select gaining $1 with an average price of $207.68. Weekly FI cattle slaughter is estimated at 624,000 head through Saturday, up 29,000 from a week ago and 34,000 head from the same week in 2016. Managed money added another 6,822 contracts to their net long position in cattle futures and options.
Apr 17 Cattle settled at $138.000, up $2.400,
Jun 17 Cattle settled at $124.025, up $2.500,
Aug 17 Cattle settled at $120.050, up $2.275,
May 17 Feeder Cattle settled at $149.550, up $2.975
Aug 17 Feeder Cattle settled at $154.700, up $4.350
Sep 17 Feeder Cattle settled at $154.650, up $3.875