Cattle Current Podcast—Jan. 18, 2024

Cattle Current Podcast—Jan. 18, 2024

Cattle futures faded early pressure to close mostly higher Wednesday with help from resurgent wholesale beef values.

Feeder Cattle futures closed an average of 83¢ higher.

Live Cattle futures closed an average of 45¢ higher, except for 2¢ lower in spot Feb.

Negotiated cash fed cattle trade ranged from inactive on light demand to a standstill through Wednesday afternoon, according to the Agricultural Marketing Service. Last week, FOB live prices were $172/cwt. in the Southern Plains, $173 in Nebraska and $175 in the western Corn Belt. Dressed delivered prices were $272-$275 in Nebraska and $275 in the western Corn Belt.

Choice boxed beef cutout value was $3.46 higher through Wednesday afternoon at 298.45/cwt. Select was $3.04 higher at $283.02/cwt.

Soybean futures closed mostly 11¢ to 21¢ lower on weak economic news in China.

Corn futures closed mostly fractionally lower to 2¢ lower.

KC HRW Wheat futures closed mostly 5¢ to 7¢ lower.

2024-01-17T18:36:54-05:00

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