Live cattle futures posted gains of a dime to $1.20 across the board on Tuesday. Cash trade has been limited so far this week after $260-265 sales last week. Feeder cattle futures were in rally mode on Tuesday, up $4.35 to $4.80 at the close, with front month May up 77 cents. The CME Feeder Cattle Index was down $2.46 to $367.63 on May 15.
The Tuesday APHIS update on the New World Screwworm showed a total of 1,889 active cases of in Mexico as of Monday. There were 156 active cases in the bordering state of Tamaulipas (7 within a range of 82-96 miles of the US border), 48 active in Nuevo Leon (14 within a range of 57-99 miles of the US border), and 15 in Coahuila (1 within 72 miles of the US border).
Wholesale Boxed Beef prices were higher in the Tuesday afternoon report, with the Chc/Sel spread at $2.17. Choice boxes were up $3.61 to $395.75, while Select was $3.35 higher at $393.58. USDA estimated federally inspected cattle slaughter for Tuesday at 110,000 head, with the weekly total at 213,000 head. That was up 3,000 head from the week prior but 23,103 head below the same week last year.
Jun 26 Live Cattle closed at $254.550, up $1.175,
Aug 26 Live Cattle closed at $247.250, up $0.100,
Oct 26 Live Cattle closed at $239.300, up $0.350,
May 26 Feeder Cattle closed at $369.575, up $0.775,
Aug 26 Feeder Cattle closed at $363.650, up $4.800,
Sep 26 Feeder Cattle closed at $361.000, up $4.800,
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.
