Cattle Current Podcast—July 8, 2022

Cattle Current Podcast—July 8, 2022

Negotiated cash fed cattle trade was moderate on moderate demand through Thursday afternoon in the Southern Plains and Nebraska. Live prices were steady to $1 lower in the Texas Panhandle at $137/cwt., mostly $1 lower in Kansas at $137 and $1-$2 lower in Nebraska at $144-$149, where dressed prices were $2 lower at $232.

Trade was limited on light to moderate demand in the western Corn Belt. Live prices the previous day were $150 — the top of last week’s range — and dressed prices were steady at $234.

Choice Boxed beef cutout value was 2¢ higher Thursday afternoon at $268.07/cwt. Select was 35¢ lower at $242.58.

Stronger grain futures pressured Feeder Cattle Thursday, while firmer beef values helped Live Cattle stay the course.

Feeder Cattle futures closed an average of 82¢ lower (42¢ to $1.05 lower).

Live Cattle futures closed an average of 18¢ higher, except for 10¢ lower in near Oct.

Grain and Soybean futures rallied back Thursday on oversold conditions and supportive outside markets.

Corn futures closed mostly 9¢ to 11¢ higher through Jly ‘23 and then mostly 2¢ to 5¢ higher.

Soybean futures closed mostly 38¢ to 43¢ higher through Jly ‘23 and then mostly 12¢ to 20¢ higher.

2022-07-07T20:31:32-05:00

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