On Thursday, live cattle futures fell between $1.67 and $3.45, with April futures closing at $250.300. Cash trade activity increased with Southern sales reaching $248, compared to last week’s $246-249. The morning Fed Cattle Exchange auction reported no sales for 1,222 head, with bids ranging from $246-248. Feeder cattle futures also decreased, with losses between $3.67 and $4.62 and the CME Feeder Cattle Index rising to $379.09.
As of April 15, active cases of the new world screwworm in Mexico reached 1,295, with 63 cases in Tamaulipas and 2 in Nuevo Leon. USDA will release the Cattle on Feed report estimating March placements down 7.1% from last year, along with beef export sales at 12,054 MT for the week of April 9—down 30.76% from the previous week and 31% from the same week last year, with South Korea purchasing 4,900 MT.
Thursday’s USDA report indicated a federally inspected cattle slaughter of 104,000 head, totaling 429,000 for the week. This represents an increase of 4,000 from last week but is 47,286 head lower than the same week last year. Wholesale boxed beef prices showed minor fluctuations, with Choice boxes down to $381.57 and Select down to $378.48.
