Cattle Extending Slide on Tuesday
Cattle futures are down $2.52 to $3 on Tuesday, as expiring April is up 40 cents. Cash trade has yet to develop this week, with last weeks 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 are trading $3.50 to $4.60 lower at midday. 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 mixed in the Tuesday morning report. Choice boxes were down $1.49 at $296.04, with Select up 70 cents at $290.91. That tightened the Chc/Sel spread to $5.13. 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 are at $185.800, up $0.400,
Jun 24 Live Cattle are at $174.500, down $2.650,
Aug 24 Live Cattle are at $172.725, down $2.950,
May 24 Feeder Cattle are at $244.275, down $3.750
Aug 24 Feeder Cattle are at $255.025, down $4.600
Sep 24 Feeder Cattle are at $256.275, down $4.450
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.
