Cattle Current Podcast—July 20, 2022

Cattle Current Podcast—July 20, 2022

Feeder Cattle futures rallied an average of $2.13 higher Tuesday, propelled by lower Corn futures and ongoing cash demand strength.

Corn futures closed 13¢ to 15¢ lower through new-crop contracts on weather pressure and then mostly 7¢ to 8¢ lower.

Soybean futures closed 17¢ to 22¢ lower through Jly ‘23 and then mostly 9¢ to 12¢ lower.

Positive outside markets, Feeder Cattle and higher wholesale beef values helped pull Live Cattle futures an average of 48¢ higher.

Choice Boxed beef cutout value was $2.02 higher Tuesday afternoon at $272.57/cwt. Select was $1.07 higher at $243.73/cwt.

Negotiated cash fed cattle trade was $1 lower in the Texas Panhandle on Tuesday at $136/cwt. with moderate trade and light to moderate demand.

Elsewhere, trade was mostly inactive on light demand with too few transactions to trend, according to the Agricultural Marketing Service.

Last week, live prices were $137 in Kansas, $140-$145 in Nebraska and $143.50 to $145.00 in the western Corn Belt. Dressed prices were $230 in Nebraska and $228-$230 in the western Corn Belt.

2022-07-19T18:22:49-05:00

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