Cattle Current Podcast—Jan. 6, 2025

Cattle Current Podcast—Jan. 6, 2025

Negotiated cash fed cattle trade was active to moderate on very good demand in the North through Friday afternoon, according to the Agricultural Marketing Service. Trade in the Southern Plains was light on good demand.

For the week, FOB live prices were $4-$5 higher in the Southern Plains at mainly $197/cwt., $3-$4 higher in Nebraska at $200 and $3-$5 higher in the western Corn Belt at $200. Dressed delivered prices were $8 higher at $315.

Choice boxed beef cutout value was $1.76 higher Friday afternoon at $325.24/cwt. Select was $2.49 higher at $296.72.

Based on the last full week of December, estimated total cattle slaughter in 2024 was about 1.2 million head less (-3.7%) year over year, while estimated beef production was 169.1 million pounds less (-0.6%).

Cattle futures closed lower Friday with likely profit taking.

Feeder Cattle futures closed an average of $2.32 lower.  Live Cattle futures closed an average of $1.02 lower, except for 45¢ higher in spot Feb.

Week to week on Friday, Feeder Cattle futures closed an average of $2.32 higher (32¢ to $3.62 higher) except for 70¢ lower in the back contract. Live Cattle futures closed an average of $2.57 higher through the front three contracts and then an average of 37¢ higher.

Grain and Soybean futures closed lower Friday.

Corn futures closed 7¢ to 9¢ lower through old-crop contracts and then mostly 5¢ lower with some likely producer selling.  

Kansas City Wheat futures closed 12¢ to 13¢ lower through Jly ’26, pressured by poor exports and positive domestic production conditions. Net U.S. weekly export sales for the week ending Dec. 26 were down 77% from the previous week — a marketing year lower — and 68% less than the prior four-week period.

Soybean futures closed mostly 16¢ to 21¢ lower, also pressured by anemic export sales — down 51% from the prior week and down 67% from the previous four-week average.

2025-01-05T13:13:45-06:00

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