Cattle Current Podcast—Feb. 3, 2023

Cattle Current Podcast—Feb. 3, 2023

Cattle futures rebounded Thursday after the previous day’s breather, buoyed by the bullish Cattle report, positive weekly exports and notions this week’s cash fed cattle prices will be higher.

Feeder Cattle futures closed an average of $2.03 higher ($1.80 to $2.68 higher).

Live Cattle futures closed an average of $1.12 higher (80¢ to $1.325 higher).

Negotiated cash fed cattle trade was limited on light demand in the Western Corn Belt through Thursday afternoon, with a few live sales at $154/cwt., according to the Agricultural Marketing Service. Elsewhere, trade ranged from standstill to mostly inactive.

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 3¢ higher Thursday afternoon at $265.10/cwt. Select was 88¢ higher at $253.66/cwt.

Corn futures closed 1¢ to 5¢ lower through Jly ’24.

KC HRW Wheat closed mostly fractionally lower to 3¢ lower.

Soybean futures closed 3¢ to 17¢ higher.

2023-02-02T22:56:39-05:00

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