Cattle Current—Jan. 12, 2023

Cattle futures closed lower Wednesday with the lack of cash fed cattle direction and firmer Corn futures prices.

Feeder Cattle futures closed an average of 65¢ lower, from 7¢ to $1.17 lower.

Live Cattle futures closed an average of 19¢ lower, except for unchanged in spot Feb.

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

Live prices last week were $157/cwt. in the Southern Plains and Nebraska and $158-$160 in the western Corn Belt. Dressed prices were $252.

Choice boxed beef cutout value was $3.80 lower Wednesday afternoon at $280.73/cwt. Select was 23¢ lower at $258.10/cwt

Corn futures closed fractionally higher to 1¢ higher through Sep ’23 and then mostly 2¢ lower

Soybean futures closed 2¢ to 8¢ higher through Aug ‘23 and then mostly 3¢ to 6¢ lower.