Live cattle futures have shown a notable uptick, with April contracts gaining $1.60, while other contracts experienced declines of up to 67 cents. Cash trade has been active this week, starting at $250-252 and climbing to $256-257 by Wednesday. Feeder cattle futures also saw midday gains of $1.60 to $1.85, with the CME Feeder Cattle Index rising to $369.80. However, the weekly Export Sales report indicated a decrease in beef sales for 2026, totaling 13,790 MT, while shipments hit a seven-week low at 12,324 MT.
The mixed performance in cattle futures reflects broader market dynamics, with wholesale boxed beef prices showing increases. Choice boxes rose by $1.69 to $389.74, and Select boxes were up $3.61 to $389.86. Additionally, USDA data indicated a slight increase in slaughter numbers compared to last week, but still down year-over-year.
Market professionals should note the resilience in live cattle prices amid fluctuating export sales and slaughter figures, signaling potential volatility in the sector as the grilling season approaches.
Source: nasdaq.com