On April 3, live cattle futures rose by 40 to 90 cents, with April contracts closing at $248.025, an increase of $1.825. Cash trade saw significant activity last week, with sales between $245 and $246, marking an increase of $8-10. Feeder cattle futures were mixed, with nearby contracts declining by 27 to 87 cents while other contracts increased by up to $1.17. The CME Feeder Cattle Index dropped $3.04 to $364.55.
The JBS strike in Greeley, Colorado, is expected to conclude on Monday, with workers returning on Tuesday as negotiations continue. Wholesale boxed beef prices increased, with Choice boxes up 26 cents to $388.04 and Select boxes rising $2.18 to $388.37. The USDA’s estimated cattle slaughter for Monday was 101,000 head, up 8,000 from the previous week but down 4,531 compared to the same week last year.
