Cattle Current Podcast—Aug. 19, 2022

Cattle Current Podcast—Aug. 19, 2022

Negotiated cash fed cattle prices continued $2 higher Thursday at $142/cwt. in the Southern Plains and $148-$150 in the western Corn Belt. That was on slow trade and moderate demand, according to the Agricultural Marketing Service. There were a few dressed trades in the western Corn Belt $5 higher than last week at $234, but too few to trend.

Trade was also slow on moderate demand in Nebraska. There were some early live sales at $146-$148 and a few in the beef at $234, but too few to trend. Last week, prices there were at $144-$148 and $229-$230.

Choice Boxed beef cutout value was 5¢ higher Thursday afternoon at $264.39/cwt. Select was 42¢ lower at $237.47/cwt.

Cattle futures softened Thursday amid over-bought conditions and likely positioning ahead of Friday’s Cattle on Feed report. 

Live Cattle futures closed an average of 58¢ lower with most pressure in front contracts.

Feeder Cattle futures closed an average of $1.10 lower, from 10¢ lower at the back to $1.87 lower.

Grain and Soybean futures continued to gain Thursday, supported by international weather concerns for corn and higher oil prices for soybeans.

Corn futures closed mostly 3¢ to 8¢ higher.

Soybean futures closed mostly 12¢ to 16¢ higher.

2022-08-19T10:38:53-05:00

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