Cattle Current Daily—Jan. 25, 2024

Cattle Current Daily—Jan. 25, 2024

Cattle futures extended gains Wednesday with help from higher cash fed cattle prices, albeit in limited trade.

Feeder Cattle futures closed an average of 53¢ higher.

Live Cattle futures closed an average of 61¢ higher.

Negotiated cash fed cattle trade was moderate on moderate demand in Kansas through Wednesday afternoon, according to the Agricultural Marketing Service. FOB live prices were $1 higher at $174/cwt.

Elsewhere, trade was mostly inactive on light demand. FOB live prices last week were $173.50/cwt. in the Texas Panhandle, $173 in Nebraska and $175 in the western Corn Belt. Dressed delivered prices were $273-$274.

Choice boxed beef cutout value was $2.16 lower Wednesday afternoon at $299.50/cwt. Select was $1.14 lower at $287.24/cwt.

Corn futures closed 4¢ to 5¢ higher.

KC HRW Wheat futures closed mostly 8¢ to 9¢ higher.

Soybean futures closed mostly 1¢ higher after Sep ’24.

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

Major U.S. financial indices closed mixed again Wednesday after early support from tech stocks.

The Dow Jones Industrial Average closed 99 points lower. The S&P 500 closed 3 points higher. The NASDAQ was up 55 points.

West Texas Intermediate Crude Oil futures (CME) closed 58¢ to 72¢ higher through the front six contracts.

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

Beef supplies in cold storage continue to be less year over year, according to the latest reportfrom USDA.

Total pounds of beef in freezers Dec. 31 were 6% more than the previous month but 11% less than the same time last year.

Similarly, frozen pork supplies were up 3% from the previous month but down 6% from the prior year.

Total red meat supplies in freezers were 4% more than the previous month but 9% less than a year earlier.

On the other hand, total frozen poultry supplies were up 4% from the previous month and up slightly from a year earlier.

 

2024-01-24T18:19:57-06:00

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.