Negotiated cash fed cattle trade was limited on light demand in all feeding regions through Thursday afternoon, according to the Agricultural Marketing Service, with too few transactions to trend.
For the week, live prices are steady in the Southern Plains at $138/cwt., but steady to $2 lower at $138-$140 in Nebraska and the western Corn Belt. Dressed trade is also steady to $2 lower at $220.
Cattle futures inched higher Thursday, although skittishness remains concerning recently slower cattle harvest amid anecdotal reports of increasing health challenges among workers.
Live Cattle futures closed an average 34¢ higher, except for an average of 12¢ lower in two contracts.
Feeder Cattle futures closed an average 69¢ higher, except for 32¢ lower in Sep.
Choice boxed beef cutout value was $1.63 higher Thursday afternoon at $268.56/cwt. Select was $1.03 higher at $260.64/cwt.
Soybean futures closed 3¢ to 7¢ lower through Aug ‘22 and then mostly 7¢ to 14¢ higher.
Corn futures closed 1¢ to 4¢ higher at either end of the board and fractionally mixed to 8¢ higher in the middle.
Major U.S. financial indices eased lower Thursday, with follow-through pressure from Fed minutes the previous day indicating a faster pullback in economic stimulus.
The Dow Jones Industrial Average closed 170 points lower. The S&P 500 closed 4 points lower. The NASDAQ was down 19 points.
Higher commodity prices, favorable financial conditions and the desire for an inflation hedge all contributed to resurgent prices for quality farmland, according to Farmers National Company (FNC).
“What started as a gradual strengthening of sales prices last fall escalated into aggressive bidding the past five months to generate new highs in prices paid for farmland in many areas,” says Randy Dickhut, FNC senior vice president of real estate operations. “Prices for good quality farmland are up 15 to 35% depending on the location.”
Most areas of the Grain Belt experienced an increase in the amount of land sold during the last 12 months, starting with additional sale activity last fall, according to FNC.
“Non-operating landowners became more active sellers of land during 2021 with the higher prices drawing their attention as well as the potential threat of tax law changes,” Dickhut explains.
Higher prices also were driven by the increased use of competitive bidding sales methods, according to FNC. In addition to the traditional public auction approach, various online auction methods are becoming commonplace.