LIVE CATTLE on the Chicago Mercantile Exchange (CME) finished up on Monday. APR’07LC futures closed at $97.30/cwt, up $.250/cwt but $3.600/cwt lower than last week at this time. The JUNE’07LC closed at $92.90/cwt up $0.20/cwt on the day but $3.80/bu lower than last Monday. Short covering provided some support late in the day as futures recovered somewhat from last week’s losses. Cash cattle are viewed as steady for this week and are expected to keep futures in a narrow trading range. Boxed beef prices lost ground but can be expected to gain back some as spring grilling picks up. Cash cattle traded lower last week with USDA placing the 5-area-weekly-weighted-cattle-price at $99.97/cwt, up over $4.00/cwt from the previous week. Prices reached highs not seen in 3 ½ years slowing cash sales toward the end of last week. USDA put the choice beef cutout at $169.18/cwt, off $0.49/cwt. According to HedgersEdge.com, the average beef plant margin for Monday was estimated $12.45/head lower at $18.95/head but $5.35/head better than a week ago. Also supportive of prices are early estimates that cattle on feed numbers will be down 1.9%-3.6% of last year when USDA’s Cattle on Feed report comes out on Friday. March placements are expected to range from 100.9%-112% of a year ago while marketings are expected to range from 95.5% -100% of a year ago. Lower corn futures provided support for fat cattle. The latest CME Feeder Cattle Index, for April 12, was off $0.49/cwt at $108.73/cwt. Cash sellers are still encouraged to push sales this week. Additionally, it is still a very good idea to forward price feed grain inputs this week.