Cattle Current Podcast—Jan. 26, 2024

Cattle Current Podcast—Jan. 26, 2024

Negotiated cash fed cattle prices bounced higher Thursday.

FOB live prices were $1.50 higher in the Texas Panhandle at $175/cwt., $2 higher in Kansas at $175, $2-$4 higher in Nebraska at $175-$177 and unevenly steady in the western Corn Belt at $174-$176. Dressed delivered prices $3-$4 higher in Nebraska at $277. Prices in the western Corn Belt last week were $273-$274.

Choice boxed beef cutout value was 82¢ lower Thursday afternoon at $298.68/cwt. Select was 61¢ higher at $287.85/cwt.

Stronger cash fed cattle prices and strong country demand for calves and feeder cattle helped push Cattle futures higher.

Feeder Cattle futures closed an average of $3.54 higher ($2.72 higher at the back to $4.40 higher in spot Mar), not counting Jan going off the board 20¢ higher.

Live Cattle futures closed an average of $1.53 higher (60¢ higher at the back to $2.37 higher in the front contract).

Turning to row crops, traders took some of the South American weather premium back out of Soybean futures, which closed mostly 10¢ to 17¢ lower.

Corn futures closed mostly 1¢ lower.

KC HRW Wheat futures closed 1¢ to 11¢ higher through May ’25 and then 2¢ lower.

2024-01-25T18:07:16-06:00

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