Cattle Current Podcast—10-01-21

Cattle Current Podcast—10-01-21

Negotiated cash fed cattle trade was limited on light demand in all major feeding regions through Thursday afternoon with too few transactions to trend, according to the Agricultural Marketing Service.

So far this week, Live prices are steady in the Texas Panhandle at $124/cwt., steady to $1 lower in Kansas at $123-$124, $2 lower in Nebraska at $122 and steady to $1 lower in the western Corn Belt at $122-$123. Dressed prices are $2 lower in Nebraska at $196 and steady to $1 lower in the western Corn Belt at $192-$196.

Position squaring for the end of the week, month and quarter, along with softer cash prices and sharply lower outside markets helped push Cattle futures lower Thursday.

Feeder Cattle futures closed an average of $2.35 lower, except for 35¢ lower in expiring Sep.

Live Cattle futures closed an average of $1.60 lower.

Choice boxed beef cutout value was $2.35 lower Thursday afternoon at $294.98/cwt. Select was $2.46 lower at $269.32/cwt.

Corn futures closed lower and Soybean futures closed sharply lower Thursday. Pressure included higher projected stocks than anticipated (see below) and the recently stronger dollar weighing on exports. As with cattle, week-end and month-end and positioning likely also contributed.

Corn futures closed mostly 2’2¢ to 2’6¢ lower.

Soybean futures closed 21¢ to 28¢ lower through Aug ’22 and then 15¢ lower to 3¢ higher.

2021-09-30T21:43:27-06:00

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