Cattle Rally on Tuesday

Live cattle futures closed the Tuesday session with gains of $1.05 to $2.90 across the board. Last week’s cash trade was at $246-249 in the South, with some northern action near $249-250. Monday had some cleanup trade at $248 in KS. Feeder cattle futures were $1.40 to $2.50 higher at the close. The CME Feeder Cattle Index was up $1.08 to $375.02 on April 13. The OKC feeder cattle auction from Monday had sales on 4,859 head, with feeders steady to $5 higher for steers and heifers up $10-15. Calves were steady to $25 higher.

The Tuesday update from APHIS on the new world screwworm in Mexico showed 54 total active cases in the bordering state of Tamaulipas as of April 12, with 3 active cases in Nuevo Leon.

Wholesale Boxed Beef prices were mixed in the Tuesday afternoon report, with the Chc/Sel back to a Choice premium of $3.40. Choice boxes were up $1.28 to $383.20, while Select was $3.84 lower at $379.80. USDA estimated federally inspected cattle slaughter at 112,000 head for Tuesday, taking the weekly total to 216,000 head after a revision to Monday. That is up 5,000 head from last week but 17,545 head below the same week last year.  

Apr 26 Live Cattle  closed at $252.550, up $1.900,

Jun 26 Live Cattle  closed at $251.425, up $2.900,

Aug 26 Live Cattle  closed at $246.525, up $2.075,

Apr 26 Feeder Cattle  closed at $375.875, up $1.400,

May 26 Feeder Cattle  closed at $374.850, up $2.025,

Aug 26 Feeder Cattle  closed at $375.825, up $2.500,