Cattle Rally Extends With Cash Prices Near Highs as Packers Pay More

Overview

• Live cattle futures, which rose Monday, followed last week’s cash sales at $245–$246 with some reports up to $246.50 on federal trade logs.
• USDA reported negotiated cash ranges at $238.00–$246.50 for live cattle and $380.00–$385.00 on a dressed basis, underscoring broad strength across regions.
• USDA estimated federally inspected cattle slaughter at about 533,000 head last week, up from the prior week but well below the same week last year.
• The JBS strike at Greeley, Colorado was expected to end Monday with workers set to return Tuesday, leaving near‑term plant throughput and cash flows in flux as talks continue.
• Wholesale boxed beef values fell late last week but firmed on Monday, and CFTC data showed funds increased net long positions in live cattle to 123,742 contracts as of March 31, a setup that can sharpen price swings.