Cattle Current Podcast—Feb. 6, 2020

Cattle Current Podcast—Feb. 6, 2020

Negotiated cash fed cattle trade remained undeveloped through Wednesday afternoon.

There were 627 head offered in the weekly Fed Cattle Exchange auction and no takers.

After hints of early support, Cattle futures trailed lower Wednesday, pressured by the ongoing retreat of open interest in Live Cattle, softer wholesale beef values and the lack of cash direction.

Live Cattle futures closed an average of 69¢ lower.

Feeder Cattle futures closed an average of $1.59 lower.

Wholesale beef values were steady to firm on light to moderate demand and offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was 21¢ lower Wednesday afternoon at $210.72/cwt. Select was 43¢ higher at $207.94.

Corn futures closed mostly 1¢ lower.

Soybean futures closed mostly fractionally higher to 1¢ higher.

2020-02-06T00:56:34-05:00

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