Live cattle futures are rallying in nearby April, up $3.27 to follow cash. Other contracts are 85 cents higher to 20 cents lower. Cash trade got kicked off early again this week, starting at $250-252 across the country and working up to $256 at Wednesday’s midday. The Fed cattle exchange online auction showed sales on 517 of the 1,036 head offered, at $256-258, with one dressed lot at $404. Feeder cattle futures are mixed, with front month and soon to expire (tomorrow) April up 27 cents and other contracts down 85 cents to $1.30. The CME Feeder Cattle Index was up 28 cents to $369.62 on April 27.
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.
Wholesale Boxed Beef prices were lower in the Wednesday morning report, with the Chc/Sel at 12 cents. Choice boxes were down 94 cents to $387.96, while Select was also 94 cents lower at $387.94. 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 are at $255.950, up $3.275,
Jun 26 Live Cattle are at $254.350, up $0.850,
Aug 26 Live Cattle are at $248.975, down $0.125,
Apr 26 Feeder Cattle are at $372.350, up $0.275
May 26 Feeder Cattle are at $370.875, down $0.850
Aug 26 Feeder Cattle are at $371.775, down $1.300
