Cattle Current Podcast—Jan. 22, 2024

Cattle Current Podcast—Jan. 22, 2024

Negotiated cash fed cattle trade on Friday ranged from a standstill in the Southern Plains to slow on light demand in the North, but with too few transactions to trend, according to the Agricultural Marketing Service. The previous 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 79¢ lower Friday afternoon at 295.50/cwt. Select was 71¢ lower at $283.05/cwt. Week to week, Choice was up $6.24 and Select was $11.20 higher.

Cattle futures mainly paddled in place Friday ahead of the monthly Cattle on Feed report (see below) and awaiting the week’s cash fed cattle direction.

Feeder Cattle futures closed narrowly mixed, from an average of 35¢ lower in the front five contracts to an average of 24¢ higher. They were an average of $4.06 higher week to week.

Live Cattle futures closed narrowly mixed, from an average of 24¢ lower to an average of 14¢ higher. Week to week, they were up an average of $2.48.

Corn futures closed narrowly mixed, from 1¢ lower to 1¢ higher.

KC HRW Wheat futures closed mostly 2¢ to 4¢ higher.

Soybean futures closed fractionally lower to 1¢ lower through Mar ’25 and then mostly fractionally higher.

2024-01-20T17:56:07-05:00

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