Live cattle futures are up 27 to 95 cents on Wednesday. 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. The Wednesday Fed Cattle Exchange online auction showed $256 sales on 307 head of the 752 offered. Feeder cattle futures are 92 cent to $1.47 higher at Wednesday’s midday. The CME Feeder Cattle Index was back down 21 cents to $375.33 on May 4.
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.
Wholesale Boxed Beef prices were lower in the Wednesday morning report, with the Chc/Sel spread at 87 cents premium to Select. Choice boxes were down $1.62 to $390.72, while Select was 65 cents lower at $391.59. 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 are at $253.500, up $0.275,
Aug 26 Live Cattle are at $249.050, up $0.700,
Oct 26 Live Cattle are at $244.175, up $0.950,
May 26 Feeder Cattle are at $372.750, up $0.925
Aug 26 Feeder Cattle are at $373.575, up $1.275
Sep 26 Feeder Cattle are at $371.800, up $1.425
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.
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