Cattle Current Daily—Jan. 29, 2025

Cattle Current Daily—Jan. 29, 2025

Last week’s upward momentum in cash prices and stubbornly strong Choice boxed beef prices helped support gains in Cattle futures Tuesday.

Toward the close, Live Cattle futures were an average of $2.39 higher. Feeder Cattle futures were an average of $1.98 higher.

Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $201-$202/cwt. in the Southern Plains and $210-$212 in Nebraska and the Western Corn Belt. Dressed delivered prices were $328-$330 in Nebraska and $330 in the western Corn Belt. 

Choice boxed beef cutout value was $2.37 higher Tuesday afternoon at $332.45/cwt. Select was $1.41 higher at $321.96.

Grain and Soybean futures see-sawed back to positive Tuesday, as traders parse South American weather, the threat of Trump tariffs and all of the rest.

Toward the close and through Sep ’25 contracts, Corn futures were 2¢ to 4¢ higher. Kansas City Wheat futures were 7¢ to 8¢ higher. Soybean futures were mostly 3¢ higher.

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Major U.S. financial indices closed higher Tuesday with a recovery bounce from the previous session’s pressure on artificial intelligence companies.

The Dow Jones Industrial Average closed 136 points higher. The S&P 500 closed 55 points higher. The NASDAQ was up 391 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures on the CME were 6¢ to 77¢ higher through the front five contracts.

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Total pounds of beef in freezers Dec. 31 were 4% more than the previous month but 5% less than the same time last year, according to the latest USDA Cold Storage report.

Frozen pork supplies were up 2% month to month but down 6% year over year.

Total red meat supplies in freezers were 3% more than the previous month but 5% less than last year.

Total frozen poultry supplies were up 1% month to month but down 8% year over year.

2025-01-28T17:21:28-06:00

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