Cattle Holding onto Modest Midday Gains

Live cattle futures are showing 32 to 57 cent gains at midday. Cash trade this week has been centered around $246 across the country. The Friday morning Fed Cattle Exchange showed $245-246 bids on the 558 head offered, with no sales. Feeder cattle futures are 15 to 80 cents higher so far on Friday. The CME Feeder Cattle Index was down $3.44 to $370.00 on April 22.  

The Thursday APHIS update on the New World Screwworm in Mexico showed total active cases at 1,469 as of 4/22, which was up 74 cases from the Tuesday update. In the bordering state of Tamaulipas, there were 116 active cases (+14 from Tuesday), with 8 active cases in Nuevo Leon (+3).

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Wholesale Boxed Beef prices were higher in the Friday morning report, with the Chc/Sel back to premium for Choice at $2.20s. Choice boxes were up $3.66 to $387.16, while Select was $2.38 higher at $384.96. USDA estimated federally inspected cattle slaughter at 106,000 head for Thursday, with the week to date total at 425,000 head. That is down 4,000 head from last week and 26,941 head below the same week last year.  

Apr 26 Live Cattle  are at $247.650, up $0.575,

Jun 26 Live Cattle  are at $243.925, up $0.425,

Aug 26 Live Cattle  are at $240.475, up $0.325,

Apr 26 Feeder Cattle  are at $366.775, up $0.150

May 26 Feeder Cattle  are at $359.400, up $0.525

Aug 26 Feeder Cattle  are at $360.150, up $0.800

On the date of publication,

here.

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