Cattle Current Podcast—Jan. 25. 2022

Cattle Current Podcast—Jan. 25. 2022

As expected, significantly higher feedlot placements revealed in Friday’s monthly Cattle on Feed report cast a pall over Cattle futures Monday, darkened by wildly volatile outside markets. However, they recovered some lost ground by the end of the session.

Feeder Cattle futures closed an average of $1.46 lower (92¢ to $2.05 lower).

Live Cattle futures closed an average of $1.03 lower (25¢ to $2.02 lower).

Negotiated cash fed cattle trade ranged from mostly inactive with very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.

Last week, live prices were at $137/cwt. in the Southern Plains, $137-$138 in Nebraska and at $137-$139 in the western Corn Belt. Dressed prices were $218.

The five-area direct average steer price last week was 89¢ higher on a live basis at $137.50/cwt. The average steer price in the beef was 7¢ lower at $217.92.

Choice Boxed beef cutout value was $1.09 higher Monday afternoon at $293.50/cwt. Select was $2.46 higher at $284.79.

Corn futures closed mostly 2¢ higher, riding the coattails of Wheat futures, which remain bolstered by the geopolitical tension in eastern Europe.

Soybean futures closed mostly 7¢ to 13¢ lower on rains in South America.

2022-01-24T21:50:43-05:00

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