Live cattle futures were weaker on Thursday, with contracts down $2.32 to $2.75 at the close. Cash action has been slow this week with bids across the country of $208 in the South and $212 in the North. Light sales of $335-345 were reported in the North. Thursday morning’s Fed Cattle Exchange online auction from Central Stockyards showed no sales 614 head listed, with bids of $205-207.  Feeder cattle futures were down $3.47 to $4.80 at the Thursday close. The CME Feeder Cattle Index was back up 66 cents on April 2, with the average price at $291.93. 

In response to President Trump’s reciprocal tariffs, China issued a retaliatory tariff of 34% on all US goods overnight. 

Export Sales data showed just 9,261 MT in beef sales for the week ending on March 27, back above last week. South Korea was the buyer of 3,400 MT, with Japan in for 2,600 MT. Shipments were tallied at 14,878 MT. The largest destination was south Korea of 5,200.wtih 3,300 MT headed to Japan. 

Census trade data from Thursday morning converted to a carcass basis showed 227.4 million lbs of beef exported in February. That is down 6.9% from last year and 1.2% below the January total.

Thursday afternoon’s National Wholesale Boxed Beef report from USDA was lower, as the Chc/Sel narrowed to $20.53. Choice boxes were back down $1.53 at $337.37/cwt, with Select 99 cents lower to $318.81. Wednesday’s Federally inspected cattle slaughter was estimated at 124,000 head by USDA, taking the weekly total to 472,000 head. That was 13,000 head below the previous week and down 2,460 head from the same week last year.

Apr 25 Live Cattle  closed at $208.050, down $2.325,

Jun 25 Live Cattle  closed at $204.700, down $2.700,

Aug 25 Live Cattle  closed at $201.175, down $2.750,

Apr 25 Feeder Cattle  closed at $285.400, down $3.475,

May 25 Feeder Cattle  closed at $283.125, down $4.800,

Aug 25 Feeder Cattle  closed at $289.300, down $4.400,