Live cattle futures experienced declines of 45 cents to $1.07 for nearby contracts, while back months showed gains ranging from 17 to 45 cents. The cash market reported prices between $260 and $265 last week. In feeder cattle futures, prices fluctuated, closing up between 40 cents and 65 cents. The CME Feeder Cattle Index rose by $1.36 to $371.49 on May 25.
As of Monday, the APHIS reported 1,970 active cases of New World Screwworm in Mexico, with Tamaulipas showing 168 cases, Nuevo Leon reporting 96, and Coahuila with 15 cases. All three states have cases near the US border.
The USDA’s latest Crop Progress report indicated that US pasture ratings improved to 29% categorized as good/excellent, up 1% from last week. Furthermore, April cattle placements totaled 1.702 million head, reflecting a year-over-year increase of 5.52%, above the estimated 3.4%. The on-feed inventory as of May 1 stood at 11.584 million head, a 1.83% annual rise.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
