Live cattle futures closed $1.45 to $1.97 in the green on the St. Patrick’s Day close. Open interest was up 472 contracts. Cash trade has been quiet so far this week. Last week settled in at $234-236. Feeder cattle futures were in rally mode on Tuesday, with gains of $4.32 to $5.22. OI was down 1,196 contracts, suggesting some short covering. The CME Feeder Cattle Index was down another $1.30 to $357.05 on March 13. The Monday OKC Feeder cattle auction saw sales on 4,305 head sold, with sales 10-15 higher on feeders and calves up $10-20 for steers and $5-15 for heifers.
The Tuesday update from APHIS on New World Screwworm south of the border showed 1,025 active cases in Mexico. Of that, 28 are in the bordering state of Tamaulipas
Wholesale Boxed Beef prices were higher in the Tuesday afternoon report, with the Chc/Sel spread at $6.59. Choice boxes were up 65 cents to $403.31, while Select was $2.21 higher to $396.72. USDA estimated federally inspected cattle slaughter for Tuesday at 109,000 head, with the week to date total at 207,000 head. That is down 4,000 head from last week and 30,219 head from the same week last year.
Apr 26 Live Cattle closed at $235.225, up $1.975,
Jun 26 Live Cattle closed at $233.700, up $1.825,
Aug 26 Live Cattle closed at $231.325, up $1.650,
Mar 26 Feeder Cattle closed at $359.800, up $4.350,
Apr 26 Feeder Cattle closed at $354.800, up $4.950,
May 26 Feeder Cattle closed at $350.625, up $5.075,
