Cattle Current Podcast—April 12, 2022

Cattle Current Podcast—April 12, 2022

Live Cattle futures closed an average of 66¢ higher Monday, receiving support from the major, performance-depressing winter storm moving toward the Northern Plains, and thoughts by some that cash cattle can crawl higher this week.

In the meantime, negotiated cash fed cattle trade ranged from limited on light demand to a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.

Live prices last week were at $138/cwt. in the Southern Plains and Colorado, at $138-$140/cwt. in Nebraska and at $140 in the western Corn Belt at $140. Dressed prices were $222.

Choice Boxed beef cutout value was $1.64 higher Monday afternoon at $272.11/cwt. Select was 4¢ lower at $260.29.

Strength in the Live pit helps drag Feeder Cattle futures an average of 34¢ higher, except for 25¢ lower in Aug.

Corn futures closed mostly 2¢ to 4¢ higher Monday, except for 4¢ and 2¢ lower in the front two contracts.

Incidentally, 32% of the winter wheat crop was rated as Good (29%) or Excellent (3%) in USDA’s Crop Progress report for the week ending April 10. That was 21% less than the same time last year. 36% was rated Poor (18%) or Very Poor (18%) compared to 17% the previous year.

2022-04-11T21:52:53-05:00

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