Live cattle futures posted $1.70 to $2.80 losses across most front months. Cash trade has been quiet this week, with a few bids of $260. Last week settled in at $256-260, with southern action $256-258 and northern trade at $258-260. Feeder cattle futures closed Tuesday with contracts down $2.50 to $7.30 on the session. The CME Feeder Cattle Index was back down $1.48 to $374.37 on May 11.
The Tuesday APHIS update on the New World Screwworm showed a total of 1,701 active cases of in Mexico as of Monday. There were 139 active cases in the bordering state of Tamaulipas (7 within a range of 96-97 miles of the US border), 51 active in Nuevo Leon (14 within a range of 79-99 miles of the US border), and 15 in Coahuila.
Wholesale Boxed Beef prices were higher in the Tuesday afternoon report, with the Chc/Sel spread at a 54 cent premium to Select. Choice boxes were down 49 cents to $390.73, while Select was 22 cents lower at $391.27. USDA estimated federally inspected cattle slaughter for Tuesday at 108,000 head, taking the weekly total to 210,000 head. That was up 5,000 head from last week but 8,947 head below the same week last year.
Jun 26 Live Cattle closed at $247.700, down $1.700,
Aug 26 Live Cattle closed at $241.075, down $2.475,
Oct 26 Live Cattle closed at $233.875, down $2.800,
May 26 Feeder Cattle closed at $365.900, down $2.500,
Aug 26 Feeder Cattle closed at $356.550, down $5.750,
Sep 26 Feeder Cattle closed at $353.875, down $6.275,
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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