Cattle Current Daily—Aug. 9, 2023

Cattle Current Daily—Aug. 9, 2023

Firmer Corn futures helped pressure Feeder Cattle futures an average of $1.10 lower Tuesday (55¢ lower at the back to $1.67 lower).

Live Cattle futures narrowly mixed, unchanged to an average of 36¢ lower in the front five contracts and then an average of 49¢ higher. 

Negotiated cash fed cattle trade and demand were at a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $180/cwt. in the Southern Plains and $188 in Nebraska and the western Corn Belt. Dressed prices were $295 in a light test.

Choice boxed beef cutout value was 90¢ higher at $302.39/cwt. Select was $1.15 higher at $276.16/cwt.

Corn futures closed mostly 1¢ to 3¢ higher.

KC HRW Wheat closed mostly 1¢ lower through Jly ‘24 and then mostly 2¢ higher.

Soybean futures closed mostly 5¢ to 8¢ higher.

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

Major U.S. financial indices closed lower Tuesday, pressured as one agency downgraded credit in the banking sector.

The Dow Jones Industrial Average closed 158 points lower. The S&P 500 closed 19 points lower. The NASDAQ was down 110 points.

West Texas Intermediate Crude Oil futures (CME) closed 75¢ to 98¢ higher through the front six contracts.

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

Nationwide, pasture and range conditions eroded some last week, according to the Crop Progress report from USDA’s National Agricultural Statistics Service.

For the week ending Aug. 6, 38% of pasture and range was rated as Good (31%) or Excellent (7%), which was 1% less than the previous week but 14% more than a year earlier. 32% was rated as Poor (18%) or Very Poor (14%), which was 3% more than a week earlier but 17% less than a year earlier. States with more than 40% of pasture and range rated as Poor or Very Poor include: Arizona (47%); Minnesota (53%); Missouri (58%); Nevada (40%); New Mexico (44%); Texas (64%); and Washington (43%).

2023-08-08T18:48:45-06:00

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.