Live cattle futures are trading with contracts $1.3 to $1.55 higher at midday. Cash trade has seen some $260 sales in the South this week with, with northern trade at $408-415 dressed and $265 live. Feeder cattle futures are up $1.15 to 3.42 at midday. The CME Feeder Cattle Index was up 9 cents to $373.23 on May 13.
The Thursday APHIS update on the New World Screwworm showed a total of 1,831 active cases of in Mexico as of Wednesday. There were 144 active cases in the bordering state of Tamaulipas (7 within a range of 85-97 miles of the US border), 62 active in Nuevo Leon (14 within a range of 79-99 miles of the US border), and 12 in Coahuila.
After renewing and revoking over 400 expired export licenses earlier this week, China has renewed the export licenses for US beef plants.
Wholesale Boxed Beef prices were stronger in the Friday morning report, with the Chc/Sel spread at a $1.76 premium to Select. Choice boxes were down $1.41 to $388.86, while Select was $1.62 higher at $390.62. USDA estimated federally inspected cattle slaughter for Thursday at 108,000 head, taking the weekly total to 426,000 head. That was up 4,000 head from last week but 34,262 head below the same week last year.
Jun 26 Live Cattle are at $253.475, up $1.400,
Aug 26 Live Cattle are at $247.700, up $1.550,
Oct 26 Live Cattle are at $239.375, up $1.300,
May 26 Feeder Cattle are at $368.725, up $1.150
Aug 26 Feeder Cattle are at $360.900, up $2.900
Sep 26 Feeder Cattle are at $358.650, up $3.425
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
