Live cattle futures settled with front month April up 17 cents and other contracts down 50 cents to $1.22. There were no deliveries issued for April on Tuesday. Cash trade has yet to get kicked off this week, with sales at $245-246 last week. Feeder cattle futures were down $3 to $3.77 in the front months on Tuesday. The CME Feeder Cattle Index was back up 4 cents to $364.59 on April 4. Equities are in rally mode early on Wednesday on the ceasefire news between US and Iran, which may add support at the open.
The Tuesday APHIS update on New World Screwworm showed 40 active cases in Mexico’s bordering state of Tamaulipas, with 2 active cases in Neuvo Leon.
Wholesale Boxed Beef prices were lower in the Tuesday afternoon report, with the Chc/Sel at an inverted $3.59. Choice boxes were down $5.30 to $382.74, while Select was $2.04 lower at $386.33. USDA estimated federally inspected cattle slaughter for Tuesday at 113,000 head, with the weekly total at 211,000. That was down 6,000 head from last week on a revision to Monday and 15,921 head below the same week last year.
Apr 26 Live Cattle closed at $248.200, up $0.175,
Jun 26 Live Cattle closed at $245.800, down $1.225,
Aug 26 Live Cattle closed at $242.375, down $0.500,
Apr 26 Feeder Cattle closed at $368.900, down $3.125,
May 26 Feeder Cattle closed at $366.625, down $3.725,
Aug 26 Feeder Cattle closed at $366.050, down $3.775,
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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