Cattle Current Podcast—Mar. 27, 2024

Cattle futures sank Tuesday amid uncertainty spun by negative and potentially negative news.

Closest to home, Monday’s announced confirmation of highly pathogenic avian influenza (HPAI) in dairy cattle from herds in Kansas and Texas likely drew the attention of funds and algorithms. The infections appear to be tied to wild birds. There is no threat to the milk or food supply, according to USDA.

The National Cattlemen’s Beef Association (NCBA) issued a statement also emphasizing HPAI has not been detected in beef cattle. However, NCBA encourages producers to implement enhanced biosecurity measures on their farms and ranches to help protect their herds.”

For broader context, according to NCBA, “Detections of avian influenza in birds are common in the United States. While it is uncommon for HPAI to affect mammals, USDA’s Animal and Plant Health Inspection Service has been tracking some limited detections of HPAI in mammalian wildlife for many years in the United States.”

So, the fundamental consequences of the HPAI finding depend on consumers.

Live Cattle closed an average of $3.22 lower.

Feeder Cattle futures closed an average of $4.48 lower ($1.72 to $5.37 lower).

Choice boxed beef cutout value was 20¢ higher Tuesday afternoon at $311.09/cwt. Select was $1.70 lower  at $300.26/cwt.

There was no AMS cash fed cattle report available at press time.

Last week, FOB live prices were $188/cwt. in the Southern Plains, $190 in Nebraska and $190-$191 in the western Corn Belt. Dressed delivered prices were $302.