Cattle Current Podcast-Jan. 16, 2019

Cattle Current Podcast-Jan. 16, 2019

Negotiated cash fed cattle trade was undeveloped through Tuesday afternoon. Last week’s stronger cash trade and another winter storm looming for the Plains and Midwest later this week suggest steady to higher prices.

Those factors supported nearby Live Cattle futures, while lower grain prices boosted Feeder Cattle.

After $1.52 higher in spot Feb, Live Cattle futures closed narrowly mixed (an average of 36¢ lower to an average of 36¢ higher).

Except for 10¢ lower in spot Jan, Feeder Cattle futures closed an average of 45¢ higher.

Grain pressure on Tuesday included, reportedly, more promising weather in South America and the dearth of public data.

Corn futures closed 5¢ to 7¢ lower through Jul ’20 and then mostly 2¢ lower.

Soybean futures closed 9¢ to 10¢ lower through Mar ‘20 and then mostly 4¢ to 7¢ lower.

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

Choice boxed beef cutout value was 19¢ higher Tuesday afternoon at $212.21/cwt. Select was 41¢ higher at $205.87.

2019-01-15T19:35:03-05:00

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