Cattle Current Daily—April 7, 2021

Cattle Current Daily—April 7, 2021

Negotiated cash fed cattle trade was at a standstill in Nebraska and the Texas Panhandle through Tuesday afternoon. Elsewhere, trade ranged from limited to mostly inactive on light demand, according to the Agricultural Marketing Service (AMS).

Last week, live prices were at $117/cwt. in the Southern Plains, $118 in Nebraska and $118-$120 in the western Corn Belt. Dressed prices were at $190 in Nebraska and at $188-$190 in the western Corn Belt.

Cattle futures closed mainly higher Tuesday, buoyed by the bullish rise in wholesale beef values. 

Live Cattle futures closed an average of 30¢ higher (5¢ to $1.35 higher), except for 15¢ lower in the back contract

Feeder Cattle futures closed an average of 99¢ higher (2¢ to $1.55 higher), except for unchanged in May.

Choice boxed beef cutout value was $4.10 higher Tuesday afternoon at $262.77/cwt. Select was $1.44 higher at $251.30.

Corn futures closed mostly 4¢ to 5¢ lower, except for 1¢ higher at either end of the board.

Soybean futures closed 1¢ to 6¢ higher.

******************************

Major U.S. financial indices edged lower Tuesday, amid some likely profit taking and rally fatigue.

The Dow Jones Industrial Average closed 96 points lower. The S&P 500 closed 3 points lower. The NASDAQ was down 7 points. 

*****************************

Economic light continues to shine brighter at the end of the pandemic tunnel.

“Thanks to the ingenuity of the scientific community, hundreds and millions of people are being vaccinated, and this is expected to power recoveries in many countries later this year,” explained Gita Gopinath, Chief Economist and Director of the Research Department at the International Monetary Fund (IMF). “We are now projecting a stronger recovery for the global economy compared with our January forecast.”

Specifically, IMF projects global GDP this year at 6.0% and 4.4% in 2022. That’s from the organization’s latest World Economic Outlook.

“The upgrades in global growth for 2021 and 2022 are mainly due to upgrades for advanced economies, particularly to a sizable upgrade for the United States that is expected to grow at 6.4% this year. This makes the United States the only large economy projected to surpass the level of GDP it was forecast to have in 2022 in the absence of this pandemic,” said Gopinath.

2021-04-06T20:19:09-05:00

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.

This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.