Live cattle futures are trading with $1.17 to $1.625 gains on Monday. Cash trade was slower last week, with the South coming in at $212-213 and Northern trade up to $217-218. Feeder cattle futures are up 50 cents to $1.45 in the nearbys on Monday. The CME Feeder Cattle Index was down $1.64 on April 24, with the average price at $289.88. The weekly OKC feeder cattle auction shows an estimated 5,000 head for sale, which is slightly below the same week last year. 

Over the weekend USDA Secretary Rollins sent a letter to Mexico’s government threatening to restrict live animal imports into the US if the country doesn’t fully cooperate to stop the spread of New World Screwworm. She is giving them until April 30 to make some requested changes or imports will be restricted. 

Managed money was adding 13,937 contracts to their net long in the week ending on April 22 to 120,460 contracts in live cattle futures and options. In feeder cattle, they increased their net long by 2,146 contracts to 28,061 contracts. 

USDA’s Monday morning National Wholesale Boxed Beef report was higher, as the Chc/Sel widened to $17.77. Choice boxes were $5.14 higher at $341.62/cwt, with Select up $3.74 to $323.85. Federally inspected cattle slaughter was estimated at 555,000 head last week. That is 21,000 head below the week prior and down 58,723 head from the same week last year.

Apr 25 Live Cattle  are at $215.875, up $1.625,

Jun 25 Live Cattle  are at $209.725, up $1.475,

Aug 25 Live Cattle  are at $205.275, up $1.175,

May 25 Feeder Cattle  are at $291.975, up $1.450

Aug 25 Feeder Cattle  are at $294.875, up $0.575

Sep 25 Feeder Cattle  are at $294.050, up $0.500