Live Cattle Prices Decline Amid Tariff Changes and Mixed Beef Prices
Live cattle are trading lower on Wednesday, with losses ranging from 10 to 25 cents. Importantly, there were no deliveries for April live cattle on Tuesday. Early cash bids today are reported at $200 in the South and between $205 and $208 in the North. Additionally, the Central Stockyards Fed Cattle Exchange reported no sales from the 1,450 head offered, with bids fluctuating from $200 to $206.50.
On a more positive note, feeder cattle futures are showing signs of a rebound on Wednesday, gaining 27 cents to reach $2.25. The CME Feeder Cattle Index rose by 53 cents on Monday, with the average price standing at $290.53.
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This week’s developments include the implementation of a 50% tariff on Chinese goods, increasing the total tariffs to 104%. In response, China has imposed a similar 50% increase on U.S. goods, bringing their total to 84%, which will take effect on Thursday.
In beef prices, USDA’s National Wholesale Boxed Beef figures were mixed on Wednesday morning. The Choice/Select spread widened to $18.32. Choice boxes increased by $1.56, pricing at $339.66 per cwt, while Select boxes dropped by 72 cents to $321.34. On the slaughter front, Tuesday’s federally inspected cattle slaughter was estimated at 122,000 head, accumulating a weekly total of 226,000 head. This figure is 1,000 head less than the previous week and down 17,810 head compared to the same week last year.
Cattle Futures Update
Apr 25 Live Cattle: $199.000, down $0.100
Jun 25 Live Cattle: $193.400, down $0.225
Aug 25 Live Cattle: $190.250, down $0.200
Apr 25 Feeder Cattle: $282.025, up $1.600
May 25 Feeder Cattle: $273.950, up $2.225
Aug 25 Feeder Cattle: $277.875, up $0.275
On the date of publication,
Austin Schroeder
did not have (either directly or indirectly) positions in any securities mentioned in this article. All data in this article is for informational purposes only. For more details, please view the Barchart Disclosure Policy here.
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