Live cattle futures experienced notable gains on Tuesday, increasing by 92 cents to $2.27. The cash trade from the previous week settled around $256-$257, while feeder cattle futures rose between $4 and $5. The CME Feeder Cattle Index was reported at $375.54, up $1.51 as of May 1. In the latest weekly OKC feeder cattle auction, 6,402 head were sold, with prices for feeders increasing by up to $4 and calf prices rising by $5 to $10.
Beef exports in March totaled 207.25 million pounds, marking a 10-year low for that month but a 12.9% increase compared to February. In terms of wholesale boxed beef, Choice prices rose by $1.86 to $393.42, while Select increased by $3.91 to $394.51. The USDA’s estimated cattle slaughter for Monday was 98,000 head, down 8,000 head from the previous week and 10,876 head lower than the same week last year.
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