Cattle Current Podcast—July 10, 2019

Unsurprisingly, negotiated cash fed cattle trade was yet to develop through Tuesday afternoon.

Cattle futures charged higher, though, fueled by limit-up gains in Lean Hog futures and technical support. Feeder Cattle were helped further by lower Corn futures.

Live Cattle futures closed an average of $1.48 higher.

Feeder Cattle futures closed an average of $3.61 higher ($2.65 higher at the back to $4.37 higher toward the front). 

Wholesale beef values were sharply lower on light demand and heavy offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was $2.73 lower Tuesday afternoon at $214.73/cwt. Select was $2.32 lower at $192.09.

Corn futures closed mainly 5¢ to 6¢ lower through Jul ‘20, and then 1¢ lower to 1¢ higher.

Soybean futures closed mostly 7¢ to 8¢ higher.