Live cattle futures settled with front month April up 17 cents and other contracts down 50 cents to $1.22. There were no deliveries issued for April on Tuesday. Cash trade has yet to get kicked off this week, with sales at $245-246 last week. Feeder cattle futures were down $3 to $3.77 in the front months on Tuesday. The CME Feeder Cattle Index was back up 4 cents to $364.59 on April 4. Equities are in rally mode early on Wednesday on the ceasefire news between US and Iran, which may add support at the open.
The Tuesday APHIS update on New World Screwworm showed 40 active cases in Mexico’s bordering state of Tamaulipas, with 2 active cases in Neuvo Leon.
