Cattle Current Podcast—Feb. 7, 2020

Cattle Current Podcast—Feb. 7, 2020

Negotiated cash fed cattle trade remained undeveloped through Thursday afternoon.

Despite the lack of cash direction and recent softness, limit-up moves across most Lean Hog contracts helped buoy Cattle futures.

Live Cattle futures closed an average of 48¢ higher. Open interest continued its recent steep decline with 61,318 fewer contracts (-15.3%) between Jan. 21 and Feb. 5.

Feeder Cattle futures closed an average of 93¢ higher (22¢ to $1.52. higher).

Wholesale beef values were steady on Choice and lower on Select with light to moderate demand and moderate offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was 21¢ higher Thursday afternoon at $210.93/cwt. Select was $1.98 lower at $205.96.

Corn futures closed mostly 1¢ to 3¢ lower.

Soybean futures closed 1¢ to 2¢ lower.

2020-02-06T22:51:06-05:00

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