Live cattle futures are rallying on Thursday, with gains of $1.20 to $1.35. Cash trade has been slow this week, with light sales at $213 in the north reported by the USDA on Wednesday. The Central Stockyards Fed Cattle Exchange online auction showed no sales on the 1,328 head listed again on Thursday morning and bids of $205-206.50. Feeder cattle futures are popping off early morning losses, up 22 to 80 cents higher in the front months, with some contracts still lower. The CME Feeder Cattle Index was back down 35 cents on March 25, with the average price at $286.90.

Export Sales data totaled beef bookings at just 7,977 MT in the week of 3/20. South Korea was the buyer of 3,300 MT, with 1,800 MT sold to Japan. Export shipments were at 14,067 MT, down 9.23% from the week prior. The top destination was South Korea at 4,000 MT, with 3,500 MT shipped to Japan and 2,400 MT to China.

USDA’s National Wholesale Boxed Beef report was mixed on Thursday morning, as the Chc/Sel narrowed to $18.86. Choice boxes were down 2 cents at $338.28/cwt, with Select up $2.89 to $319.42. Wednesday’s Federally inspected cattle slaughter was estimated at 123,000 head by USDA, taking the week to date total to 366,000 head. That is 40,000 head above the previous week’s weather driven slowdown and up 2,968 head from the same week last year.

Apr 25 Live Cattle  are at $208.300, up $1.225,

Jun 25 Live Cattle  are at $204.375, up $1.350,

Aug 25 Live Cattle  are at $200.550, up $1.200,

Mar 25 Feeder Cattle  are at $287.600, up $0.800

Apr 25 Feeder Cattle  are at $286.100, up $0.225

May 25 Feeder Cattle  are at $284.875, down $0.300