Cattle Current Podcast—July 9, 2019

Cattle Current Podcast—July 9, 2019

Negotiated cash fed cattle trade ended up steady in the Southern Plains last week at $109/cwt. on a live basis. Prices were $1-$2 higher in Nebraska at $113.00-$113.50 and at $112-$114 in the western Corn Belt. Dressed trade was steady to $2 higher at $180.

Likewise, the 5-area direct weekly average price for steers was $1.11 higher week to week on Monday at $111.24/cwt. on a live basis. Live heifers traded $1.25 higher at $110.82.

Cattle futures closed mainly narrowly mixed on Monday after early follow through support.

Live Cattle futures closed mixed, from an average of 66¢ lower in the front three contracts to an average of 23¢ higher.

Feeder Cattle futures closed narrowly mixed from 17¢ lower to 7¢ higher.

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

Choice boxed beef cutout value was 21¢ lower Monday afternoon at $217.46/cwt. Select was 39¢ lower at $194.41.

Corn futures closed mixed, from fractionally higher to 4¢ higher through Jul ‘20, and then mostly 1¢ to 2¢ lower.

Soybean futures closed 3¢ higher.

2019-07-08T19:48:01-06:00

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