Cattle Current Podcast-August 16

Never mind lower cash fed cattle prices last week—lower yet for scattered sales so far this week—the presumed looming wall of cattle or other various reasons given for the slide in cattle futures and cash prices last week. Cattle futures on Tuesday bounced near-limit higher for many Feeder Cattle and Live Cattle contracts, re-establishing some buffer for key support levels.

There’s little question futures were oversold, but as is so often the case these days, there seemed little definitive to explain the gains. Softer grain prices helped Feeder Cattle. Another apparently large kill last week suggests cattle feeders remain aggressive sellers, maintaining currentness along the way. But still…

Live Cattle futures closed an average of $2.02 higher ($1.00 to $2.70 higher).

Feeder Cattle futures closed an average of $3.56 higher ($3.05 to $3.97 higher).

Choice boxed beef cutout value was 3¢ higher Tuesday afternoon at $198.95/cwt. Select was 57¢ lower at $195.87.