Cattle futures showed mixed activity on April 30, with nearby live cattle contracts rallying while others posted smaller gains or slight declines. Live cattle futures for April increased by $3.27, tracking higher cash prices, while other contracts ranged from an increase of 85 cents to a decrease of 20 cents. Cash trade began early in the week at $250-252 and reached $256 by midday Wednesday.
The movement in cattle futures reflects ongoing developments in the livestock market. The Fed Cattle Exchange online auction reported sales on 517 out of 1,036 head offered at prices between $256 and $258, with one dressed lot selling for $404.
Feeder cattle futures were also mixed; the soon-to-expire April contract was up by 27 cents, while other months saw declines ranging from 85 cents to $1.30. The CME Feeder Cattle Index rose by 28 cents to reach $369.62 as of April 27.
An update from APHIS on Tuesday indicated there are currently 1,416 active cases of New World Screwworm across Mexico, including 120 cases in Tamaulipas and eleven in Nuevo Leon according to recent reports.
Wholesale boxed beef prices declined in Wednesday morning’s report: Choice boxes dropped by 94 cents to $387.96 and Select boxes also fell by the same amount to $387.94. USDA estimated federally inspected cattle slaughter at 109,000 head for Tuesday and a weekly total so far of 215,000 head—up by about seven thousand compared to last week but down over ten thousand compared to this time last year.
At market close: Apr Live Cattle stood at $255.950 (up $3.275), Jun Live Cattle at $254.350 (up $.850), Aug Live Cattle at $248.975 (down $.125), Apr Feeder Cattle at $372.350 (up $.275), May Feeder Cattle at $370.875 (down $.850), and Aug Feeder Cattle at $371.775 (down $1.300).
Legacy Farmers Cooperative is structured as a member-owned cooperative according to the official website. The cooperative supports community initiatives such as local youth programs and scholarships according to the official website. It serves agricultural producers across ten counties in northwest Ohio according to the official website, maintaining facilities like grain centers and retail locations throughout the region according to the official website. With more than one hundred fifty employees across its divisions according to the official website, Legacy Farmers Cooperative aims “to exceed customer expectations by offering top value and financial returns” for its members according to the official website.
Austin Schroeder said he did not have any positions in securities mentioned within this article as of publication date.
