Cattle Current Podcast—Dec. 7, 2022

Cattle Current Podcast—Dec. 7, 2022

Cattle futures and some other ag commodities lost ground Tuesday with much of the pressure apparently tied to recessionary fears in outside markets. The recent sharp decline in wholesale beef prices didn’t help.

Feeder Cattle futures closed an average of $2.08 lower ($1.75 to $2.25 lower).

Live Cattle futures closed an average of $1.69 lower ($1.32 to $2.20 lower).

Corn futures closed mostly 1¢ to 3¢ lower.

Soybean futures closed 14¢ to 17¢ higher through Aug ‘23 and then mostly 4¢ to 6¢ higher.

Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, live prices were at $155/cwt. in the Southern Plains, $157 in Nebraska, $157 in Colorado and $157-$158 in the western Corn Belt. Dressed prices were $248-$249.

Choice Boxed beef cutout value was 66¢ lower Tuesday afternoon at $242.65/cwt. Select was $1.97 lower at $219.14/cwt.

2022-12-06T19:26:10-06:00

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