Live Cattle Markets Experience Significant Declines on Friday
Live cattle futures are trading lower, with losses ranging from $4.55 to $5.95 so far this Friday. In the cash market, trades have been reported at $208 in the South this week, a drop of $1 to $2 compared to last week. Meanwhile, northern sales have seen steady prices, down slightly by $1, resting between $212 and $213. Additionally, feeder cattle futures are also down, falling between $6.22 and $8.25 as the week comes to a close. As of April 2, the CME Feeder Cattle Index rose by 66 cents, bringing the average price to $291.93.
In a notable economic response, China announced a retaliatory tariff of 34% on all U.S. goods following President Trump’s introduction of reciprocal tariffs.
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Friday morning’s National Wholesale Boxed Beef report from the USDA revealed a rise in prices as the Choice/Select spread widened to $21.06. Choice boxes increased by $1.04 to $339.41 per hundredweight, while Select prices rose by 51 cents to $318.35. On Thursday, the USDA estimated federally inspected cattle slaughter at 124,000 head, bringing the weekly total to 472,000 head. This figure marks a decrease of 13,000 head from the previous week and a drop of 2,460 head compared to the same week last year.
April 25 Live Cattle are priced at $203.500, down $4.550.
June 25 Live Cattle are priced at $198.825, down $5.875.
August 25 Live Cattle are priced at $195.225, down $5.950.
April 25 Feeder Cattle are priced at $279.175, down $6.225.
May 25 Feeder Cattle are priced at $274.950, down $8.175.
August 25 Feeder Cattle are priced at $281.050, down $8.250.
On the date of publication, Austin Schroeder did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data provided in this article are solely for informational purposes. For more details, please review the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
