Cattle Current Podcast—Dec. 19, 2023

Cattle Current Podcast—Dec. 19, 2023

Cattle futures rallied higher Monday with follow-through support, including renewed buying interest, especially in Feeder Cattle, and firming cash fed cattle prices at the end of last week.

Feeder Cattle futures closed an average of $2.40 higher ($1.97 to $2.85 higher).

Live Cattle futures closed an average of 68¢ higher (27¢ to 97¢ higher).

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

Last week, FOB live sales were $1 lower in the Southern Plains at $170/cwt., $1-$3 lower in Nebraska at $168 and $1-$2 lower in the western Corn Belt at $167-$169. Dressed delivered prices were steady to $4 lower in Nebraska at $267-$268 and $1-$3 lower in the western Corn Belt at $267.

Last week’s weighted average five-area direct FOB live steer price was $1.23 lower at $168.71/cwt. The weighted average steer price in the beef was $2.10 lower at $267.53.

Choice boxed beef cutout value was $2.71 lower Monday afternoon at $288.93/cwt. Select was $2.90 higher at $263.72/cwt.

Corn futures closed 3¢ to 6¢ lower through Jly ’25 and then 1¢ higher.

KC HRW Wheat futures closed mostly 13¢ to 15¢ lower.

Soybean futures closed mostly 5¢ to 8¢ higher.

2023-12-18T19:32:23-06:00

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