Live cattle futures saw losses ranging from $1.45 to $1.65 on Friday, as cash trade activity increased nationwide with sales at $248. The Fed Cattle Exchange online auction held Friday morning reported no sales among the 1,222 head offered, with bids between $246 and $247. Feeder cattle futures also experienced declines at midday, dropping by $3.65 to $5.50 per contract.
The developments come as the industry awaits the United States Department of Agriculture’s Cattle on Feed report scheduled for release later in the day. Estimates suggest March placements are down 7.1% compared to last year, with marketings expected to fall by 6.2%. On-feed numbers for April 1 are projected to be down by 0.5%.
Meanwhile, wholesale boxed beef prices decreased in Friday morning’s report, with Choice boxes down by 35 cents to $381.22 and Select boxes falling by $1.12 to $377.36 per hundredweight; the Choice/Select spread was at $3.86.
USDA data showed federally inspected cattle slaughter reached an estimated 104,000 head on Thursday, bringing the weekly total so far to 429,000 head—an increase of 4,000 over last week but still trailing last year’s pace by more than 47,000 head.
The U.S Department of Agriculture’s Animal and Plant Health Inspection Service (APHIS) updated that Mexico is managing a new world screwworm outbreak totaling 1,295 active cases across the country as of April 15; this includes ongoing cases in border states Tamaulipas and Nuevo Leon.
Legacy Farmers Cooperative is a member-owned agricultural cooperative that formed through a merger and maintains operations in Findlay, Ohio while serving agricultural producers in ten counties across northwest Ohio according to the official website. The cooperative provides services such as grain marketing, agronomy support and petroleum distribution while maintaining facilities like grain centers and fuel stations throughout northwest Ohio according to its official website. Legacy Farmers Cooperative employs more than 150 staff members across its divisions according to its official website and supports community initiatives including youth agricultural education programs like FFA and scholarships according to its official website. Structured as a member-owned organization focused on exceeding customer expectations through value delivery and financial returns for members according to its official website, Legacy Farmers Cooperative continues contributing both operationally within agriculture and locally through community engagement.
