Live Cattle Futures Surge Amid Tariff Delay Announcement
On Wednesday, live cattle futures experienced a late-session rally, with contracts closing $3.75 to $4.75 higher due to a recent tariff delay. Notably, there were no deliveries for April live cattle that day. Cash trade was modest, with light activity recorded at $208. Yesterday, the Central Stockyards Fed Cattle Exchange offered 1,450 head but reported no sales, with bids ranging from $200 to $206.50.
Feeder cattle futures also saw gains in the late afternoon, closing up between $3.32 and $6.47. The CME Feeder Cattle Index slightly rose by 8 cents on Tuesday, bringing the average price to $290.61.
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Later in the session, President Trump announced a 90-day halt on tariffs for certain countries, excluding China, which will see its tariffs raised to 125%. The existing blanket tariff of 10% remains in place for other nations.
The USDA reported a decline in National Wholesale Boxed Beef prices on Wednesday afternoon. The Chc/Sel spread widened to $17.25, with Choice boxes priced down by 24 cents at $337.89/cwt. Select boxes dropped $1.45 to $320.61. Additionally, Wednesday’s Federally inspected cattle slaughter was estimated at 123,000 head, bringing this week’s total to 349,000 head. This figure falls 2,000 head short of last week’s counts and is down 7,056 from the same week last year.
Here’s a summary of the latest contract prices:
- Apr 25 Live Cattle: closed at $202.800, up $3.700
- Jun 25 Live Cattle: closed at $198.375, up $4.750
- Aug 25 Live Cattle: closed at $195.000, up $4.550
- Apr 25 Feeder Cattle: closed at $283.750, up $3.325
- May 25 Feeder Cattle: closed at $278.200, up $6.475
- Aug 25 Feeder Cattle: closed at $283.250, up $5.650
On the date of publication, Austin Schroeder did not hold any positions in the securities mentioned in this article. All data provided is for informational purposes only. For more details, please view the Barchart Disclosure Policy here.
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