Cattle Current Podcast-October 13

Cattle feeder confidence paid off in the Southern Plains on Thursday as packers paid $2 more than last week on a live basis at $111/cwt. There was too little trade for a trend in other regions through the afternoon.

Cattle futures lost ground on Thursday. Although the bounce higher in grains likely provided some pressure, more than anything, it had the feel of modest positioning and correcting rather than anything bearish.

Live Cattle futures closed an average of 96¢ lower (62¢ to $1.42 lower).        

Other than 60¢ and 37¢ lower at either end of the board, Feeder Cattle futures closed an average of $2.01 lower ($1.12 to $2.42 lower).

Choice boxed beef cutout value was $1.12 higher Thursday afternoon at $197.44/cwt. Select was 69¢ higher at $189.45.