Live cattle futures edged out higher on Thursday, with contracts up 10 to 20 cents in the front months, with deferreds 32 to 92 cents higher. Equities are starting out the day on a weaker note, which may add some spillover pressure at the open. Cash trade has yet to be reported so far this week. Thursday morning’s Fed Cattle Exchange online auction showed no sales on the 1,224 head, with bids at $238. Feeder cattle futures were down $1 to $1.75 on the day, as strength in the corn market added some pressure. The CME Feeder Cattle Index was down another 34 cents to $368.59 on March 4.
The weekly update from APHIS showed another 8 new cases (4 in bovine) of new world screwworm in Tamaulipas, with the total in the bordering state at 19 active cases.
