Cattle Current Podcast—Feb. 5, 2024

Cattle Current Podcast—Feb. 5, 2024

Cattle futures were narrowly mixed Friday as traders paused at the end of a significantly positive week, fueled by gains in cash fed cattle prices and supported by the friendly Cattle report.

For the week, FOB live prices were $3 higher in the Texas Panhandle at $178/cwt., $4 higher in Kansas at $178-$179, steady to $1 higher in Nebraska at $176-$177 and steady to $5 higher in the western Corn Belt at $177-$179. Dressed delivered prices were $3 higher at $280.

Feeder Cattle futures closed an average of 44¢ lower. Week to week, there were an average of $3.99 higher.

Live Cattle futures closed an average of 39¢ higher, except for unchanged in away Feb. Week to week, they were an average of $2.36 higher.

Choice boxed beef cutout value was $1.86 lower Friday afternoon at $293.08/cwt. Select was 22¢ higher at $283.47/cwt. Week to week, Choice was $7.45 lower and Select was down $5.66.

Estimated total cattle slaughter last week of 637,000 head was 19,000 more than the previous week and the same as a year earlier. Year-to-date estimated total cattle slaughter of 2.9 million head was 215,000 head fewer (-6.8%) than the same period a year ago. Year-to-date estimated beef production of 2.5 billion pounds was 125.7 million pounds less (-4.8%).

Soybean futures closed 14¢ to 15¢ lower through Sep ’25.

Corn futures closed mostly 1¢ to 4¢ lower.

KC HRW Wheat futures closed mostly 3¢ to 5¢ higher.

2024-02-04T18:48:50-05:00

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