Cattle Current Podcast—Feb. 1, 2023

Feeder Cattle futures closed higher Monday in anticipation of the USDA Cattle report (see below).

Feeder Cattle futures closed an average of $1.36 higher (93¢ to $2.23 higher).

Live Cattle futures closed mixed, from 33¢ down to 45¢ higher.

Negotiated cash fed cattle trade was at a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, live prices were $156/cwt. in the Southern Plains, $153-$156 in Nebraska and $152-$157 in the western Corn Belt. Dressed prices were $248.

Choice boxed beef cutout value was $2.01 lower Tuesday afternoon at $266.09/cwt. Select was $1.40 higher at $252.92/cwt.

Corn futures closed mixed,  unchanged to down 4¢ through Sept. 23, then up 1¢ to 3¢.

KC HRW Wheat closed mostly down 2¢.

Soybean futures closed mixed, up fractionally to 2¢ higher in spot March and May respectively, then mostly down 1¢ to 4¢.