Live Cattle Futures Show Gains Amid Mixed Cash Prices

Live cattle futures closed the Tuesday session with the front months gaining 72 cents to reach $1.02. Early week cash activity focused primarily on compiling showlists. Last week’s trading was limited, with some cattle exchanged at $208 in the northern region and $204 in the South. The feeder cattle futures presented Tuesday gains ranging from $1.325 to $2.10. On April 14, the CME Feeder Cattle Index saw an increase of 91 cents, bringing the average price to $288.07.

Wholesale Beef Prices Decline

Reportedly, the USDA’s National Wholesale Boxed Beef prices fell on Tuesday afternoon, with the Chc/Sel back at $20.19. Specifically, Choice boxes decreased by 20 cents to $335.43/cwt, while Select boxes dropped by 61 cents to $315.24. Additionally, Tuesday’s Federally inspected cattle slaughter reached an estimate of 122,000 head, contributing to a weekly total of 234,000. This figure was 8,000 head higher than the previous week but down by 9,928 head compared to the same week last year.

Futures Market Summary

Apr 25 Live Cattle closed at $204.800, an increase of $0.850.

Jun 25 Live Cattle closed at $199.800, rising by $0.725.

Aug 25 Live Cattle reached $196.850, up $1.025.

Apr 25 Feeder Cattle closed at $289.375, gaining $1.325.

May 25 Feeder Cattle ended at $282.525, an increase of $1.575.

Aug 25 Feeder Cattle finished at $288.250, up $2.100.

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.

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