Cattle Current Podcast-Sept. 13, 2018

Negotiated cash fed cattle trade remained undeveloped Wednesday, though auctions began providing some indicators, albeit mixed.

For instance, Ch 2-4 steers brought $109.74 to $110.00 on a jag of 205 head. But,

Ch 2-3 steers brought $106-$109 at Sioux Falls Regional Livestock in South Dakota.

Only 444 head were offered in the weekly Fed Cattle Exchange auction Wednesday, with no takers. There were three lots passed out at $108.00-$108.25/cwt.

Cattle futures took a strong step higher Wednesday. Lower grain prices—tied to the World Agricultural Supply and Demand Estimates—helped lift Feeder Cattle, dragging Live Cattle along.

Live Cattle futures closed an average of $1.14 higher (85¢ to $2.17 higher in spot Oct).

Feeder Cattle futures closed an average of $2.00 higher ($1.32 to $2.57 higher).

Wholesale beef values were lower on light to moderate demand and moderate offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was $1.28 lower Wednesday afternoon at $204.79/cwt. Select was $1.04 lower at $197.27.