Cattle Current Podcast-Feb, 2, 2024

Cattle Current Podcast-Feb, 2, 2024

Cattle futures charged ahead Thursday, fueled by strong gains in cash fed cattle prices and the bullish Cattle inventory report (see below) released after trading the previous day.

Feeder Cattle futures closed an average of $3.90 higher ($3.21 higher at the back to $4.72 higher at the front).

Live Cattle futures closed an average of $2.08 higher.

Negotiated cash fed cattle trade was moderate on moderate demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. FOB live prices were mostly $3 higher at mostly $178/cwt.

Elsewhere, trade ranged from moderate on moderate demand to moderate on light demand.

So far this week, dressed delivered prices are $3 higher at $280.

Last week, FOB live prices were $175-$177 in Nebraska and $174-$177 in the western Corn Belt.

Choice boxed beef cutout value were 40¢ higher Thursday afternoon at $294.94/cwt. Select was 92¢ lower at $287.05/cwt.

Corn futures closed unchanged to 1¢ lower.

KC HRW Wheat futures closed mostly 1¢ lower.

Soybean futures closed mostly 12¢ to 19¢ lower.

2024-02-02T15:10:51-06:00

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