Cattle Rally on Tuesday with Cash Strength

Live cattle futures posted Tuesday gains of $2.12 to $4.55. Cash trade got kicked off early again this week, but on a higher, note at $252 live and 395-396 dressed in the north. Southern action was still quiet, with very light $250-252 action. Feeder cattle futures were up $1.50 to $5.37 on the day. The CME Feeder Cattle Index was up 28 cents to $369.62 on April 27. The weekly OKC feeder cattle action showed mostly steady action on the 6,573 head sold.

The Tuesday APHIS update showed 1,416 active cases of New World Screwworm across Mexico, with 120 active cases in the bordering state of Tamaulipas and 11 in Nuevo Leon. On Monday, Florida restricted the import of cattle from 6 southern counties in Texas due to screwworm concerns though there have yet to be any active cases reported within the US.

Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.

Wholesale Boxed Beef prices were mixed in the Tuesday afternoon report, with the Chc/Sel at 12 cents. Choice boxes were down 66 cents to $388.90, while Select was 18 cents higher at $3878.78. USDA estimated federally inspected cattle slaughter at 109,000 head for Tuesday, taking the weekly total to 215,000 head. That is up 7,000 head from last week and 10,377 head below the same week last year.

Apr 26 Live Cattle closed at $252.675, up $2.250,

Jun 26 Live Cattle closed at $253.500, up $4.550,

Aug 26 Live Cattle closed at $249.100, up $3.725,

Apr 26 Feeder Cattle closed at $372.075, up $1.500,

May 26 Feeder Cattle closed at $371.725, up $4.275,

Aug 26 Feeder Cattle closed at $373.075, 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.

More news from Barchart