LIVESTOCK-Feeder cattle contracts fall after USDA report

Chicago Mercantile Exchange live cattle contracts edged higher on Monday, while feeder cattle contracts fell, after U.S. government data released on Friday afternoon showed bigger-than-expected supplies in feedlots. The U.S. Agriculture Department’s monthly report showed that the number of U.S. cattle on feed, as of April 1, was down 4% from a year earlier – which beat analysts’ expectations. USDA reported March placements of cattle into feedlots as down 1%, compared with expectations for a 5.2% drop. Traders also noted some profit-taking in the feeder cattle contracts. CME’s April live cattle futures settled up 0.325 cent at 174.3 cents per pound. Most-active June live cattle contract gained 0.025 cent to 164.55 cents, settling above its 10-day moving average.