Live cattle futures are showing 97 cents to $1.85 losses across most contracts on Fruday. Cash trade has mostly been $256-260 so far this week, with southern action $256-258 and northern trade at $258-260. A few dressed bids are being reported at $405. Feeder cattle futures are 95 cents to $3.90 at midday. The CME Feeder Cattle Index was back down $2.90 to $372.29 on May 5.
The Thursday APHIS update on the New World Screwworm showed a total of 1,702 active cases of in Mexico as of Wednesday. There were 133 active cases in the bordering state of Tamaulipas (3 within a range of 96-97 miles of the US border), 44 active in Nuevo Leon (11 within a range of 79-98 miles of the US border), and 4 in Coahuila.
Wholesale Boxed Beef prices were higher in the Friday morning report, with the Chc/Sel spread at a $3.85 premium to Choice. Choice boxes were up $2.08 to $389.02, while Select was $75 cents higher at $384.42. USDA estimated federally inspected cattle slaughter for Thursday at 109,000 head, taking the weekly total to 422,000 head. That is down 12,000 head from last week and 46,428 head below the same week last year.
Jun 26 Live Cattle are at $249.075, down $0.975,
Aug 26 Live Cattle are at $244.375, down $1.525,
Oct 26 Live Cattle are at $238.125, down $1.850,
May 26 Feeder Cattle are at $365.375, down $0.950
Aug 26 Feeder Cattle are at $362.575, down $3.600
Sep 26 Feeder Cattle are at $360.750, down $3.900
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
