Cattle Current Podcast—Feb. 9, 2023

Cattle Current Podcast—Feb. 9, 2023

Cattle futures drifted lower again Wednesday awaiting cash direction.

Feeder Cattle futures closed an average of 62¢ lower.

Live Cattle futures closed an average of 14¢ lower, except for an average of 16¢ higher in the front two contracts.

Negotiated cash fed cattle trade was limited on light demand in Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early live sales at $157/cwt. Elsewhere, trade ranged from mostly inactive on very light demand to a standstill.

Last week, live prices were $158/cwt. in the Texas Panhandle, $158-$159 in Kansas, $155-$159 in Nebraska and $154-$160 in the western Corn Belt. Dressed prices were $250.

Choice boxed beef cutout value was 48¢ higher Wednesday afternoon at $267.20/cwt. Select was $4.17 lower at $253.16/cwt.

Corn futures closed mostly 1¢ to 2¢ higher.

KC HRW Wheat closed mostly 6¢ to 9¢ higher.

Soybean futures closed fractionally higher to 4¢ higher through Nov ’23 and then mostly unchanged to 5¢ lower.

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2023-02-08T20:06:00-06:00
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