Cattle Posting Midday Losses Amid More BIAV Fallout
Live cattle are slipping lower on Wednesday, with midday losses of $1.37 to $2.30. Cash action has been negligible thus far. Last week’s trade was $183-184 live and $292 dressed in the North, steady to down $1 from the previous week. Southern trade was steady, at $182. Feeders are down 75 cents in the April contract, with others $2.37 to $2.95 lower. The CME Feeder Cattle index was up another $1.11 on April 22 to $243.22.
USDA has issued an order requiring dairy cows be tested before moving to a new state on Wednesday. This came after several inactivated remnants of the BIAV, which pose no known risk to humans, were detected in milk samples, along with the virus being detected in a lung of an asymptomatic dairy cow that was sent to slaughter.
USDA’s Wholesale Boxed Beef prices were pushed back lower in Wednesday morning’s report. Choice boxes were $1.62 lower to $295.78, with Select down $1.99 at $290.77. That took the Chc/Sel spread back up to $5.01. USDA estimated cattle slaughter at 125,000 head for Tuesday, taking this week’s total to 238,000 head. That was down 7,000 head from the previous week and 14,284 head below the same week last year.
Apr 24 Live Cattle are at $181.350, down $2.000,
Jun 24 Live Cattle are at $175.000, down $2.150,
Aug 24 Live Cattle are at $173.225, down $2.275,
Apr 24 Feeder Cattle are at $243.000, down $0.750
May 24 Feeder Cattle are at $243.500, down $2.550
Aug 24 Feeder Cattle are at $256.450, down $2.950
On the date of publication, Alan Brugler 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.