On Thursday, live cattle futures increased by 65 cents to $2.15, with April futures up $7.70 for the week. Cash trade opened strongly at $245 per cwt, a $10 rise from the previous week. The Fed Cattle exchange reported no sales out of 1,016 head offered, with bids between $238-239.50. In related markets, feeder cattle futures rose between $2.15 to $2.77, with the CME Feeder Cattle Index estimated at $366.81.
The APHIS reported 41 active New World Screwworm cases in Mexico’s Tamaulipas and 2 in Nuevo Leon as of April 1. In beef export news, sales reached a three-week high of 11,886 MT during the week of March 26, with South Korea as the top buyer at 3,800 MT. However, February’s beef exports were at a 10-year low of 183.6 million pounds, marking a 6% decrease from January.
Wholesale boxed beef prices showed declines, with Choice boxes down $4.84 to $389.58 and Select boxes down $4.89 to $387.70. The USDA estimated federally inspected cattle slaughter at 105,000 head for Thursday, bringing the weekly total to 429,000 head, which is up 17,000 head from the prior week but 39,632 head below last year’s figures.
