Cattle Current Podcast-December 27

Apparently, what Friday’s bearish monthly Cattle on Feed report took away from trader optimism, extreme cold temperatures and winter weather helped give back on Tuesday in the form of expectations for lower cattle performance. Perhaps traders also recognized the potential for high placements to moderate beef production down the road (see below). A bounce in wholesale beef values, helped, too.

Choice boxed beef cutout value was $3.04 higher on Tuesday afternoon at $202.60/cwt. Select was $2.95 higher at $190.83.

Live Cattle futures closed an average of $2 higher ($1.20 to $2.90 higher).

Feeder Cattle futures closed an average of $2.65 higher.