Cattle Markets Rebound as Screwworm Scare Gets Squashed - Vanessa Clark Reports Strong Gains Ahead of Big USDA Data
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Cattle Markets Rebound as Screwworm Scare Gets Squashed - Vanessa Clark Reports Strong Gains Ahead of Big USDA Data
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This is your Daily Live Cattle Price Tracker with Vanessa Clark podcast.
Hey everyone, welcome back to the Daily Live Cattle Price Tracker with Vanessa Clark. I'm so glad you're here with me today.
So let's jump right into what's happening in the live cattle market right now because there's some really positive movement to talk about. As of today, February live cattle futures are trading at 232.37, up 0.22 from yesterday. April live cattle futures are at 234.57, up 0.60. And if you're tracking feeder cattle, March is at 357.67, up 1.22, while April feeder cattle are at 356.45, up 1.55. So we're seeing nice gains across the board, which is great news for producers out there.
Now here's what's really interesting. Earlier this week there was some market volatility because of a false rumor about a case of New World screwworm being detected in the United States. The rumor circulated and the market took a hit, but here's the good news, that has been completely debunked. There have been no confirmed cases of New World screwworm in the US, and traders are responding positively to that confirmation. This should give the market the boost it needs to rebound even stronger.
Looking at the bigger picture, we're in a really supportive environment for cattle right now. Cash cattle prices are holding steady, and boxed beef prices were higher yesterday. Choice cuts were up almost two dollars, which signals that retail demand for beef remains really strong. Consumers are continuing to prefer beef and continue buying it, which is translating into better prices at the wholesale level.
For those of you looking at the longer term, the USDA has some major reports coming this month. The Cattle on Feed report drops on Friday, January 23rd, and then the big one, the annual Cattle inventory report, comes out Friday, January 30th. These reports could really move the market, so keep those dates on your calendar.
One thing worth paying attention to is that placements of feeders into feedlots are expected to be down about five percent because of the border closure to cattle imports from Mexico. That means domestic feeder cattle are becoming more valuable, which could support prices going forward.
The bottom line is that fundamentals look solid right now. We've got tight supplies, strong demand, and now that the market has cleared up the New World screwworm confusion, traders seem ready to move higher. If you're a producer, this is a good time to pay attention to where futures are trading and think about your marketing strategy.
Thanks so much for tuning in to the Daily Live Cattle Price Tracker. Make sure you subscribe so you don't miss our next update. We'll be tracking these prices for you every single day. Keep watching this space, and we'll catch you next time.
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