Live cattle close the Tuesday session with contracts up 17 cents in the front month April and down 55 cents in June. Preliminary open interest suggested continued long liquidation, down 11,841 contracts. There were no deliveries for April live cattle on Tuesday. Cash trade has been slow to develop this week. Last week’s trade was at $208 in the South, with Northern sales at $212-213. 

Feeder cattle futures were lower on Tuesday, with April rallying $2.60 on the session and other nearby contracts within 45 cents of unchanged. Feeder cattle preliminary open interest data was down 2,864 contracts. The CME Feeder Cattle Index was back up 53 cents on Monday, with the average price at $290.53. 

The addition 50% tariffs on China are set to go into effect today April 9, taking the new total to 104% on all Chinese goods. Overnight, China retaliated with a 50% increase on US goods, taking to total to 84% to be implemented on Thursday.

USDA’s National Wholesale Boxed Beef prices were Mixed in the Tuesday PM report, as the Chc/Sel narrowed to $16.04. Choice boxes were down $1.40 at $338.10/cwt, with Select $2.76 higher to $322.06. Tuesday’s Federally inspected cattle slaughter was estimated at 122,000 head by the USDA, bringing the weekly total to 226,000 head. That was 1,000 head below the previous week and down 17,810 head from the same week last year.

Apr 25 Live Cattle  closed at $199.100, up $0.175,

Jun 25 Live Cattle  closed at $193.625, down $0.550,

Aug 25 Live Cattle  closed at $190.450, down $0.075,

Apr 25 Feeder Cattle  closed at $280.425, up $2.600,

May 25 Feeder Cattle  closed at $271.725, up $0.450,

Aug 25 Feeder Cattle  closed at $277.600, down $0.450,