Cattle Current Podcast—Aug. 3, 2022

Cattle Current Podcast—Aug. 3, 2022

Cattle futures weakened Tuesday, pressured by lower wholesale beef prices, the weaker cash outlook and worries about House Speaker Nancy Pelosi’s visit to Taiwan potentially straining the already frayed relationship between the U.S. and China.

Feeder Cattle futures closed an average of $1.08 lower (57¢ to $1.65 lower).

Live Cattle futures closed an average of 17¢ lower, except for 2¢ higher in Jun.

Grain and Soybean futures closed lower again Tuesday with weather pressure and steady crop condition ratings week to week and year over year.

Corn futures closed 11¢ to 15¢ lower through Sep ‘23 and then mostly 5¢ to 8¢ lower.

Soybean futures closed mostly 12¢ to 19¢ lower.

Negotiated cash fed cattle trade was slow on light demand in the western Corn Belt through Tuesday afternoon, according to the Agricultural Marketing Service. There were a few live trades at $143/cwt. but too few to trend. Elsewhere, trade was at a standstill.

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.

Choice Boxed beef cutout value was $2.14 lower Tuesday afternoon at $268.46/cwt. Select was $1.35 lower at $241.55/cwt.

2022-08-02T20:36:10-05:00

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This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.