Cattle Look to Rebound Following Monday’s Losses
Cattle futures were mostly down 30 cents to $1.42 on Monday with April up 72 cents ahead of expiration today. Cash trade last week was $182-183 in the South, steady to $1 higher. Northern trade was reported at $184-186, steady to $2 higher on the week, with a few trickling in a $187. Feeders were down 35 cents to 92 cents on the day. The CME Feeder Cattle index was $1.65 higher on April 26 to $247.18.
USDA is planning to begin testing ground beef at retail stores in states of HPAI outbreaks among dairy herds.
USDA’s Wholesale Boxed Beef prices were higher in the Monday afternoon report. Choice boxes were 39 cents higher at $297.53, with Select up $1.49 at $290.21. That tightened the Chc/Sel spread to $7.32. USDA estimated Monday’s federally inspected cattle slaughter at 113,000 head. That is even with last week and down 9,090 head from the same week last year.
Apr 24 Live Cattle closed at $185.400, up $0.725,
Jun 24 Live Cattle closed at $177.150, down $1.425,
Aug 24 Live Cattle closed at $175.675, down $1.100,
May 24 Feeder Cattle closed at $248.025, down $0.675,
Aug 24 Feeder Cattle closed at $259.625, down $0.925,
Sep 24 Feeder Cattle closed at $260.725, down $0.850,
On the date of publication, Alan Brugler 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.
