Live cattle futures surged on Friday, with contracts rising between $3.45 and $3.95. Cash trade remains limited, noting sales around $234-235. The Fed Cattle Exchange’s online auction on Thursday saw 40 out of 1,024 head sold at $370 dressed, with bids ranging from $234.50 to $235.50 live. Feeder cattle futures also increased, with gains of $6.30 to $7.32; the CME Feeder Cattle Index climbed $1.46 to $363.24 as of March 24.
In related news, the USDA reported a total of 412,000 federally inspected cattle slaughtered this week, down by 2,000 from last week and 73,357 head lower than the same week last year. Wholesale Boxed Beef prices rose, with Choice boxes increasing by $4.24 to $394.09 and Select boxes up 23 cents to $391.89.
Additionally, the New World Screwworm outbreak sees 40 active cases in Tamaulipas, Mexico, with one new case reported in Nuevo Leon.
