Cattle Current Podcast—Aug. 2, 2022

Cattle Current Podcast—Aug. 2, 2022

A reprieve in Corn futures helped Feeder Cattle climb an average of $1.64 on Monday, further bolstered by last week’s strong cash trade.

Corn futures closed 9¢ to 10¢ lower through new-crop contracts and then mostly 1¢ to 2¢ lower. Pressure was likely due in part to reports that the first load of Ukraine grain exports in too many months left from the port at Odessa.

Live Cattle futures closed an average of 66¢ higher, with another day of higher wholesale beef prices.

Choice Boxed beef cutout value was $1.36 higher Monday afternoon at $270.60/cwt. Select was 65¢ higher at $242.90/cwt.

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

Last week, live prices were $135/cwt. in the Southern Plains, $138 in Nebraska and $141-$145 in the western Corn Belt. Dressed prices were $225 in Nebraska and $224-$228 in the western Corn Belt.

2022-08-01T20:07:11-05:00

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