Wednesday markets
The decision by President Donald Trump to a 90-day pause in tariffs sent cattle futures skyward, regaining some of the losses from the previous days.
Live cattle futures closed higher, with the April contract up $3.70 to $202.80 and the June contract up $4.75 to $198.37.
Cash trade was moderate, with 9,275 head sold. Live steers sold for $207-209, and dressed steers sold between $327-328.
On the formula side, 28,400 head averaging 908 lbs. sold for an average of $336.06.
Today’s slaughter is estimated to be 123,000 head, 1,000 head below a week earlier.
Boxed beef prices were lower on 154 loads, with the Choice cutout down 24 cents to $337.86 and the Select cutout down $1.45 to $320.61.
Feeder cattle
Feeder cattle also closed triple digits higher, with the April contract up $3.32 to $283.75 and the May contract up $6.47 to $278.20.
The CME Feeder Cattle Index was up 53 cents to $290.53.
Corn futures climbed higher, with the May and July contracts up a nickel to $4.74 and $4.80, respectively.
Colorado: Winter Livestock in La Junta sold 723 head on Tuesday. Compared to the last auction, feeder steers and heifers sold sharply lower across all weight classes due to last week having a greater offering compared to this week’s sharp decline in offerings. A group of steers averaging 729 lbs. sold for $284.50.
Utah: Producers Livestock in Salina sold 870 head on Tuesday. Compared to the previous auction, feeder steers under 600 lbs. sold $8-14 higher, and feeder steers over 600 lbs. traded $1-7 higher. Feeder heifers under 600 lbs. sold generally steady, and feeder heifers over 600 lbs. were lower an average of $3-8. A group of steers averaging 794 lbs. sold for $279. — Charles Wallace, WLJ contributing editor
