Cattle futures rallied back Thursday, fueled by confirmation that no traces of Bovine Influenza A virus (BIAV) were found in ground beef samples by USDA’s Animal and Plant Health Inspection Service (APHIS).
“Samples were collected at retail outlets in the states in which dairy cattle herds have tested positive for H5N1 influenza virus. The samples were analyzed by APHIS using polymerase chain reaction (PCR), to indicate whether any viral particles were present. No virus particles were found to be present,” according to the APHIS statement.
Live Cattle futures closed an average of $2.37 higher.
Feeder Cattle futures closed an average of $3.26 higher.
Negotiated cash fed cattle trade ranged from slow on light demand in the North to a standstill in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices are $2-$3 higher in Nebraska at $187/cwt. and $1-$3 higher in the western Corn Belt at $187. Dressed delivered prices are steady to $1 higher at $294-$295.
FOB live prices in the Southern Plains last week were $182.
Choice boxed beef cutout value was 64¢ lower Thursday afternoon at $292.90/cwt. Select was 9¢ lower at $287.98/cwt.
Net U.S. beef export sales the week ending Apr. 25 of 22,500 metric tons for 2024 were a marketing-year high — up 48% from the previous week and up 38% from the prior four-week average. Increases were primarily for South Korea, Japan, Taiwan, China and Mexico.
Turning to row crops, Grain and Soybean futures surged higher Thursday with weather premiums tied to planting delays.
KC HRW Wheat futures closed mostly 11¢ to 12¢ higher.
Corn futures closed mostly 4¢ to 9¢ higher.
Soybean futures closed 22¢ to 34¢ higher through Jan ’25 and then 14¢ to 19¢ higher. Weekly U.S. export sales provided added support. Net sales of 414,000 metric tons for 2023-24 were up 96% from the previous week and were 45% more than the prior four-week average.