Cattle Current Podcast—Jan. 13, 2023

Cattle Current Podcast—Jan. 13, 2023

Cattle futures closed lower Thursday, with pressure from the continued lack of cash fed cattle direction and the Corn-friendly World Agricultural Supply and Demand Estimates (see below).

Corn futures closed to 13¢ to 15¢ higher through the front three contracts, then 5¢ to 7¢ higher through Jly ’24.

Soybean futures closed 14¢ to 25¢ higher through Aug ‘23 and then mostly 1¢ to 3¢ higher.

Feeder Cattle futures closed an average of $1.06 lower through the front half of the board, and then unchanged to an average of 17¢ higher.

Live Cattle futures closed an average of 26¢ lower, except for unchanged and 7¢ higher in two away contracts.

Negotiated cash fed cattle trade ranged from mostly inactive on very light demand in the Southern Plains to limited on light demand through Thursday afternoon, according to the Agricultural Marketing Service.

Although too few to trend, there were some early dressed sales in Nebraska at $252/cwt. and a few on a live basis in the western Corn Belt at $158-$159.

Live prices last week were $157/cwt. in the Southern Plains and Nebraska and $158-$160 in the western Corn Belt. Dressed prices were $252.

Choice boxed beef cutout value was $3.24 lower Thursday afternoon at $277.49/cwt. Select was $1.09 lower at $257.01/cwt.

2023-01-12T21:27:38-06:00

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