Live Cattle Prices Surge Amid Strong Cash Market Performance

Live cattle futures experienced a notable increase on Thursday, rising by 27 cents to $1.25. The cash trade in the Southern markets reached $218, while Northern transactions were reported between $222 and $224. At the Central Stockyards Fed Cattle Exchange online auction, 436 of the 872 head offered sold at $218 in Texas. In contrast, feeder cattle futures closed with a decrease of 50 cents to $1, though May contracts increased by 65 cents, aligning with the index. The CME Feeder Cattle Index rose by 33 cents on April 30, averaging $296.10.

Export Sales and Shipment Data Show Strength

According to Export Sales data, a total of 12,290 metric tons of beef were sold in the week ending April 24, an increase from the previous week. Notably, Japan purchased 4,000 metric tons, while South Korea imported 3,700 metric tons. Weekly shipments peaked at 15,776 metric tons, marking a 7-week high. South Korea was the leading destination with 5,600 metric tons, followed closely by Japan at 4,900 metric tons.

USDA Boxed Beef Report and Slaughter Estimates

The USDA’s National Wholesale Boxed Beef report revealed mixed performance on Thursday afternoon, with the Choice Select spread narrowing to $18.89. Choice boxes declined by $2.14, landing at $343.17 per cwt, while Select boxes rose by $2.26 to $324.28. Federally inspected cattle slaughter was estimated at 120,000 head for Thursday, bringing the weekly total to 465,000, which is 1,000 head fewer than the previous week and down 14,278 head from the same week last year.

Live and Feeder Cattle Closing Prices

Jun 25 Live Cattle closed at $209.650, up $1.250.

Aug 25 Live Cattle closed at $204.650, up $0.600.

Oct 25 Live Cattle closed at $202.225, up $0.275.

May 25 Feeder Cattle closed at $293.225, up $0.650.

Aug 25 Feeder Cattle closed at $294.450, down $0.575.

Sep 25 Feeder Cattle closed at $292.850, down $0.950.

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.
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