Cattle Current Podcast—Jan. 11, 2024

Cattle Current Podcast—Jan. 11, 2024

Negotiated cash fed cattle trade ranged from slow on light demand to mostly a standstill through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were a few early FOB live trades in the western Corn Belt at $175/cwt. and a few dressed delivered sales at $274-$275.

Last week, FOB live prices were $172-$173/cwt. in the Southern Plains, $173-$175 in Nebraska and $175 in the western Corn Belt. Dressed delivered prices were generally $274-$275.50.

Choice boxed beef cutout value was $2.91 higher Wednesday afternoon at 283.07/cwt. Select was $4.11 higher at $266.94/cwt.

Cattle futures consolidated to the upside Wednesday.

Live Cattle futures closed an average of 24¢ higher, except for 2¢ lower in spot Feb.

Feeder Cattle futures closed an average of $1.01 higher.

Soybean were down on South American production forecasts Wednesday. They closed 8¢ to 12¢ lower through Aug ’24 and then mostly 1¢ to 2¢ lower.

Grain futures mainly held ground ahead of Friday’s World Agricultural Supply and Demand Estimates.

Corn futures closed mostly fractionally lower. KC HRW Wheat futures closed 1¢ to 2¢ lower.

2024-01-10T19:43:47-06:00

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