Cattle Futures Decline as Market Activity Remains Light

Live cattle futures experienced a downward trend on Thursday, with contracts closing lower by $1.95 to $3.25. On Wednesday, cash trade saw limited activity, with prices at $208 in the north and $204 in the south on Thursday, but not enough transactions occurred to establish a trend. This morning’s Central Stockyards Fed Cattle Exchange reported no sales from the 1,450 head offered, receiving bids around $200. At Thursday’s close, feeder cattle futures decreased by 97 cents to $3.32. The CME Feeder Cattle Index dropped $3.32 on April 9, bringing the average price to $287.29.

Beef Export Sales and Shipment Highlights

The Export Sales report indicated that 11,855 MT of beef was sold during the week ending April 3, marking the highest volume in four weeks. South Korea accounted for 4,900 MT of the sales, while Japan imported 3,300 MT. Shipments reached 15,065 MT, a three-week peak, with 5,500 MT directed to South Korea and 4,000 MT to Japan.

Wholesale Beef Prices and Slaughter Data

USDA’s National Wholesale Boxed Beef prices fell on Thursday afternoon, causing the Choice/Select spread to widen to $19.33. Choice boxed beef prices decreased by $3.57 to $334.29/cwt, while Select fell by $5.65 to $314.96. The USDA estimated Thursday’s federally inspected cattle slaughter at 114,000 head, bringing the weekly total to 463,000 head—9,000 head lower than the previous week and down 16,641 head from the same week last year.

Market Closing Prices

Apr 25 Live Cattle closed at $200.850, down $1.950.

Jun 25 Live Cattle closed at $195.200, down $3.175.

Aug 25 Live Cattle closed at $192.200, down $2.800.

Apr 25 Feeder Cattle closed at $282.775, down $0.975.

May 25 Feeder Cattle closed at $275.300, down $2.900.

Aug 25 Feeder Cattle closed at $279.925, down $3.325.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) any positions in the securities mentioned in this article. All information and data in this article are for informational purposes only. For more details, please view the Barchart Disclosure Policy here.

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