Live cattle futures are in rally mode, with contracts up $3.45 to $3.95. Cash trade has been light with a few $234-235 sales, with Friday bids at $235. The Thursday Fed Cattle Exchange online auction showed 40 head sold of the 1,024 head offered at $370 dressed, as bids were still $234.50-235.50 live. Feeder cattle futures are trading with $6.30 to $7.32 gains across the front months on Friday The CME Feeder Cattle Index was up $1.46 to $363.24 on March 24.
The Thursday update on the New World Screwworm from APHIS showed more active cases in the bordering state of Tamaulipas, Mexico, taking the total to 40 active. There was 1 new active case reported in Nuevo Leon.
Wholesale Boxed Beef prices were higher in the Friday AM report, with the Chc/Sel back to a Choice premium at $2.20. Choice boxes were back up $4.24 to $394.09 while Select was 23 cents higher at $391.89. USDA estimated federally inspected cattle slaughter on Thursday at 97,000 head, with the weekly total at 412,000 head. That was down 2,000 head from last week but 73,357 head below the same week last year.
Apr 26 Live Cattle are at $238.575, up $3.475,
Jun 26 Live Cattle are at $238.750, up $3.950,
Aug 26 Live Cattle are at $236.125, up $3.725,
Apr 26 Feeder Cattle are at $361.450, up $6.375
May 26 Feeder Cattle are at $359.075, up $7.325
Aug 26 Feeder Cattle are at $356.950, up $6.575
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.
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