Live Cattle and Feeder Markets Show Mixed Results This Week

Live cattle are trading with varied outcomes on Tuesday, with contracts ranging from 40 cents higher to 27 cents lower. Notably, there were no deliveries on the first notice day for April live cattle. In the cash markets, last week’s trade in the South was reported at $208, a decrease of $1 to $2 from the previous week. Northern sales remained steady to slightly lower, at $212 to $213.

Feeder cattle futures are trending downward, slipping by 45 to 55 cents thus far, while the April contract shows an increase of 2.675. The CME Feeder Cattle Index fell by $1.95 on April 4, with the average price positioned at $290. The Oklahoma City feeder cattle auction recorded just 1,589 head sold on Monday, with prices decreasing by $5 to $10 for feeder steers and $15 lower for calves over 500 pounds. Heifers saw a drop of $12 to $15, and calves fell by $20 to $25.

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On Tuesday morning, USDA’s National Wholesale Boxed Beef report indicated a continued uptick, as the Choice/Select spread narrowed to $15.14. Choice beef boxes rose by just 3 cents to $339.53 per cwt, while Select boxes showed a $5.09 increase, reaching $324.39. Monday’s federally inspected cattle slaughter was estimated at 108,000 head, which is 4,000 head above the previous Monday, yet down by 12,384 from the same week last year.

Apr 25 Live Cattle are at $199.325, up $0.400,

Jun 25 Live Cattle are at $193.900, down $0.275,

Aug 25 Live Cattle are at $190.575, up $0.050.

Apr 25 Feeder Cattle are at $280.500, up $2.675.

May 25 Feeder Cattle are at $270.825, down $0.450.

Aug 25 Feeder Cattle are at $277.500, down $0.550.

On the date of publication, Austin Schroeder 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.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.