Cattle Current Daily—Sept. 27, 2019

Cattle Current Daily—Sept. 27, 2019

Negotiated cash fed cattle trade remained undeveloped through Thursday afternoon, as Cattle futures continued to mostly grind higher.

Live Cattle futures closed an average of 17¢ higher, except for an average of 10¢ lower at either end of the board.

Except 7¢ lower for expiring Spot Sep, Feeder Cattle futures closed an average of 33¢ higher.

Wholesale beef values were firm on Select and lower on Choice with light to moderate demand and offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was $1.12 lower Thursday afternoon at $213.51/cwt. Select was 56¢ higher at $190.39.

Corn futures closed mostly fractionally lower.

Soybean futures closed fractionally mixed to 1¢ higher. 

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Major U.S. financial indices closed lower on Thursday, riding a similar seesaw from earlier in the week with the ebb and flow of trade talk with China.

The Dow Jones Industrial Average closed 79 points lower. The S&P 500 closed 7 points lower. The NASDAQ was down 46 points.

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Beef supplies in Cold Storage continue less year over year.

Total pounds of beef in freezers, as of Aug. 31, were 4% more than the previous month but 6% less than the same time last year, according to the most recent USDA Cold Storage report.

Frozen pork supplies were down 1% from the previous month, but were up 4% from last year.

Total red meat supplies in freezers were up 1% from the previous month but down 1% from last year.

Total frozen poultry supplies were 4% more than the previous month but 5% less than a year ago.

2019-09-26T19:51:22-06:00

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