Live cattle futures were higher on Tuesday, with gains of 30 to 70 cents. There still have yet to be any deliveries against April futures with expiration set for today. Preliminary open interest was up 3,192 contracts overall. Cash trade has yet to see any movement this week but closed last week with the South coming in at $212-213 and Northern trade up to $217-218. Feeder cattle futures were in rally mode on Tuesday, with gains of $1.525 to $2.225. The CME Feeder Cattle Index was back up $1.43 on April 28, with the average price at $295.14.

USDA’s National Wholesale Boxed Beef report was mixed on Tuesday afternoon, as the Chc/Sel widened to $24.44. Choice boxes were $5.49 higher at $348.26/cwt, which is the highest for the product since the COVID spike, with Select down $1.30 to $323.82. Federally inspected cattle slaughter was estimated at 120,000 head for Tuesday, with the weekly total at 224,000. That is 4,000 head below the week prior and down 11,342 head from the same week last year.

Apr 25 Live Cattle  closed at $216.350, up $0.700,

Jun 25 Live Cattle  closed at $210.200, up $0.600,

Aug 25 Live Cattle  closed at $205.675, up $0.350,

May 25 Feeder Cattle  closed at $294.025, up $2.225,

Aug 25 Feeder Cattle  closed at $296.900, up $1.950,

Sep 25 Feeder Cattle  closed at $295.600, up $1.525,