Cattle Current Podcast—Dec. 28, 2020

Cattle Current Podcast—Dec. 28, 2020

Negotiated cash fed cattle was not reported Thursday or Friday. On Wednesday, prices were $2 higher in the Southern Plains at $110/cwt., according to the Agricultural Marketing Service. There were some early dressed sales in Nebraska and the western Corn Belt at $172; a few live sales in the western Corn Belt at $110. Trade in those regions the previous week was at mostly $105 on a live basis and mostly $165 in the beef.

Choice Boxed beef cutout value was $3.13 lower on Wednesday at $207.54/cwt. Select was $1.66 lower at $197.93.

The average dressed steer weight the week ending Dec. 12 was 922 lbs., which was the same as the prior week but 18 lbs. heavier than the same week a year earlier, according to USDA’s Actual Slaughter Under Federal Inspection report. The average dressed heifer weight of 848 lbs. was 2 lbs. lighter week to week but 7 lbs. heavier year over year.

Cattle futures closed narrowly mixed but mostly slightly higher in Thursday’s short session, amid extremely light holiday trade. Heading into the new week, support from stronger cash prices and the outlook for higher wholesale beef values will likely compete with year-end position squaring.

Live Cattle futures closed an average of 21¢ higher except for 7¢ lower in the back contract.

Feeder Cattle futures closed an average of 25¢ higher except for unchanged to 40¢ lower in three contracts.

Corn futures closed mostly 1¢ to 2¢ higher.

Soybean futures closed 4¢ to 5¢ higher through Aug ’21, and then fractionally lower to 1¢ lower.

2020-12-27T15:04:27-06:00

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