Cattle Current Podcast—Dec. 13, 2022

Cattle Current Podcast—Dec. 13, 2022

Cattle futures mostly edged higher Monday with carryover support from last week’s strong close and the bounce higher in wholesale beef prices.

Choice Boxed beef cutout value was $8.09 higher Monday afternoon at $257.02/cwt. Select was $4.42 higher at $225.68/cwt.

Live Cattle futures closed an average of 39¢ higher.

Feeder Cattle futures closed an average of 14¢ higher, except for unchanged to 27¢ lower in three contracts.

Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.

Last week, live prices were at $153-$155/cwt. in the Texas Panhandle, $155-$156 in Kansas, $156-$158 in Nebraska and $156 in the western Corn Belt. Dressed prices were $246-$247.

The five-area direct weighted average fed steer price last week was 63¢ lower at $155.79/cwt. The average steer price in the beef was $1.73 lower at $246.82.

Corn futures closed 3¢ to 10¢ higher. Reportedly, bargain hunting was a primary driver.

Soybean futures closed 18¢ to 23¢ lower through Sep ‘23, and then mostly 10¢ to 14¢ lower., pressured by positive rains in South America.

2022-12-12T19:02:21-06:00

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