Live cattle futures posted $1.52 to $2.52 losses on Tuesday. Open interest slipped back 1,458 contracts on Tuesday. Early cash trade this week has been quiet with a few light sales of $246 floating around in KS, but not enough for a trend. Feeder cattle futures were $2.20 to $2.55 lower at the close. OI suggested new selling interest, rising 1,253 contracts. The CME Feeder Cattle Index was down $1.32 to $374.37 on April 20. The OKC feeder cattle auction had 5,867 head sold with feeders steady to $2-4 lower.
The Tuesday update from APHIS on the New World Screwworm showed active cases in Mexico at 1,395. There were 102 active cases in the bordering state of Tamaulipas, with 5 reported in Nuevo Leon.
Wholesale Boxed Beef prices were lower in the Tuesday afternoon report, with the Chc/Sel at $1.02 premium for select. Choice boxes were up $2.62 to $386.18, while Select was $3.59 higher at $387.20. USDA estimated federally inspected cattle slaughter at 111,000 head for Tuesday, with the week to date total at 208,000 head. That is down 8,000 head from last week and 17,274 head below the same week last year.
Apr 26 Live Cattle closed at $247.425, down $2.175,
Jun 26 Live Cattle closed at $243.550, down $2.525,
Aug 26 Live Cattle closed at $239.700, down $1.900,
Apr 26 Feeder Cattle closed at $366.575, down $2.300,
May 26 Feeder Cattle closed at $358.550, down $2.550,
Aug 26 Feeder Cattle closed at $358.950, down $2.400,
