Cattle Current Podcast-August 18

If this isn’t the seasonal bottom or near it, hopefully you can see it from here.

Cash fed cattle trade broke loose with moderate trade on light to moderate demand in all major cattle feeding regions on Thursday. Live prices were mainly $3-$7 less than last week at mostly $110/cwt. Dressed trade was $8-$10 less at mostly $175.

Choice boxed beef cutout value was $1.88 lower Thursday afternoon at $195.63/cwt. Select was 84¢ lower at $194.20.

Continued deterioration in fed cattle prices and wholesale beef values, along with sharply lower outside markets, supported bears’ doubts about the near term and fueled further liquidation in Cattle futures.

Live Cattle futures closed an average of $2.16 lower through the front three contracts and then an average of $1.19 lower (87¢ to $1.67 lower); an average of about $2.75 lower across the board in the last two sessions.

Feeder Cattle futures closed an average of $1.87 lower ($1.37 to $2.40 lower), a little more than an average of $5 lower in the past two sessions.