Cattle Current Daily—Oct. 23, 2024

Cattle Current Daily—Oct. 23, 2024

Cattle futures gained Tuesday, with support from the continued increase in Choice boxed beef cutout values.

Toward the close, Live Cattle futures were an average of 89¢ higher. Feeder Cattle futures were an average of $1.33 higher

Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $188/cwt. in the Southern Plains and $187-$188 in the North. Dressed delivered prices were $296.

Choice boxed beef cutout value was $1.10 higher Tuesday afternoon at $323.96/cwt. Select was $1.41 lower at $294.80.

Corn and Soybean futures were higher again Tuesday with follow-through support.

Toward the close and through Sep ’25 contracts,

Corn futures were 4¢ to 7¢ higher. Kansas City Wheat futures were 3¢ higher. Soybean futures were mostly 12¢ higher.

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Major U.S. financial closed narrowly mixed Tuesday.

The Dow Jones Industrial Average closed 6 points lower. The S&P 500 closed 2 points lower. The NASDAQ was up 33 points.

Through mid-afternoon, West Texas Intermediate Crude Oil futures on the CME were $1.26 to $1.68 higher through the front six contracts.

2024-10-22T18:34:17-06:00

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