Live cattle futures posted gains of $1.47 to $2.92 across the board on Tuesday. Cash trade from last week finished out near $256-257. It has been quiet so far this week, with a few light sales of $400 in NE. Feeder cattle futures were $4.25 to $5.70 higher in bounce back Turnaround Tuesday action. The CME Feeder Cattle Index was back down 21 cents to $375.33 on May 4. The weekly OKC feeder cattle auction saw 6,402 head sold, with feeders steady to $4 higher on the steers and heifers steady to $2 lower. Calves were up $5 to $10 head.
The Tuesday APHIS update on the New World Screwworm showed a total of 1,674 active cases of in Mexico as of Monday. There were 126 active cases in the bordering state of Tamaulipas (3 within a range of 96-97 miles of the US border), 21 active in Nuevo Leon (6 within a range of 80-97 miles of the US border), and 4 in Coahuila.
Census data converted to a carcass basis showed beef exports at 207.25 million pounds in March, a 10-year low for the month but 12.9% above February.
Wholesale Boxed Beef prices were higher in the Tuesday afternoon report, with the Chc/Sel spread at 10 cents. Choice boxes were up 78 cents to $393.42, while Select was $1.64 higher at $392.24. USDA estimated federally inspected cattle slaughter for Tuesday at 104,000 head, taking the weekly total to 202,000 head. That is down 13,000 head from last week and 27,987 head below the same week last year.
Jun 26 Live Cattle closed at $253.225, up $1.475,
Aug 26 Live Cattle closed at $248.350, up $2.175,
Oct 26 Live Cattle closed at $243.225, up $2.775,
May 26 Feeder Cattle closed at $371.825, up $5.225,
Aug 26 Feeder Cattle closed at $372.300, up $5.700,
Sep 26 Feeder Cattle closed at $370.375, up $5.575,
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.
