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Live cattle futures rose between $1.05 and $2.90 on Tuesday, bolstered by a 2,043 contract increase in open interest. Last week’s cash trade recorded prices of $246-249 in the South and $249-250 in the North, with a Monday cleanup trade at $248 in Kansas. Feeder cattle futures also saw gains from $1.40 to $2.50, and the CME Feeder Cattle Index rose by $1.08 to $375.02. The Oklahoma City feeder cattle auction saw steady to $5 higher prices for steers, and heifers increased by $10-15, with calves up to $25 higher.
In related news, the USDA reported that federally inspected cattle slaughter reached 112,000 head on Tuesday, bringing the weekly total to 216,000 head, an increase of 5,000 from the previous week but 17,545 head lower than the same week last year. Wholesale Boxed Beef prices exhibited mixed results, with Choice boxes up $1.28 to $383.20, while Select dropped $3.84 to $379.80.
Additionally, as of April 12, APHIS reported 54 active cases of the new world screwworm in Tamaulipas, Mexico, and 3 in Nuevo Leon.
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