Cattle Current Podcast—Dec. 1, 2020

Cattle Current Podcast—Dec. 1, 2020

Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service. Last week, live prices were at $111/cwt. in the Southern Plains, $110-$111 in Nebraska and $109-$110 in the western Corn Belt. Dressed trade was at $172-$174.

More narrowly, last week’s five-area direct average steer price was $110.27/cwt. on a live basis, which was 70¢ higher than the previous week, according to USDA data. The average steer price in the beef was $1.67 higher at $173.37.

Cattle futures closed mixed on Monday, amid month-end position squaring and some support from weaker grain futures.

Live Cattle futures closed an average of 31¢ lower except for an average of 7¢ higher in the back two contracts.

Feeder Cattle futures closed an average of 75¢ higher, from 55¢ higher at the back to $1.22 higher in spot Jan.

Choice boxed beef cutout value was 83¢ higher Monday afternoon at $243.68/cwt. Select was $1.75 higher at $222.43.

Corn futures closed mostly 5¢ to 7¢ lower.

Soybean futures closed 14¢ to 23¢ lower.

2020-11-30T18:39:57-06:00

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