Cattle Current Podcast—Jan. 31, 2020

Cattle Current Podcast—Jan. 31, 2020

Negotiated cash fed cattle trade was slow with moderate demand in the Southern Plains through Thursday afternoon. Based on USDA reports, live prices were steady with the previous day at $122/cwt., which was $2 less than last week.

Cattle futures finally firmed on Thursday after taking their lumps for the previous five sessions, and in the face of another limit and near limit-down day for Lean Hogs.

Except for 2¢ lower in near Apr, Live Cattle futures close an average of 29¢ higher (2¢ to 62¢ higher).

Except for unchanged in the back contract, Feeder Cattle futures closed an average of 25¢ higher (5¢ to 67¢ higher).

Wholesale beef values were steady to weak on light to moderate demand and offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was 17¢ lower Thursday afternoon at $213.35/cwt. Select was 45¢ lower at $211.48.

Corn futures closed 4¢ to 5¢ lower through Jly ’21 and then mostly 1¢ lower.

Soybean futures closed 12¢ to 16¢ lower through Jan ’21 and then 5¢ to 10¢ lower.

2020-01-30T19:41:00-06:00

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