Cattle Current Podcast—June 14, 2024

Cattle Current Podcast—June 14, 2024

Negotiated cash fed cattle trade and demand were moderate in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. Prices were $1 higher at $186/cwt.

Elsewhere, trade was limited on good demand. Although too few transactions to trend, there were some early live FOB trades in Nebraska and the western Corn Belt at $192-$195. Last week, prices were $190 in Nebraska and $190-$193 in the western Corn Belt. Dressed prices were $301 last week.

Choice boxed beef cutout value was 71¢ higher Thursday afternoon at $318.31/cwt. Select was 32¢ higher at $299.25/cwt.

Cattle futures mostly edged higher with firmer wholesale beef prices and the outlook for higher cash prices this week. Before settlement, Live Cattle futures were an average of 44¢ higher. Feeder Cattle were an average of 22¢ lower, except for an average of 30¢ higher in the back two contracts.

Grain and soybean futures firmed Thursday.

Heading toward the close, and through Jly ’25 contracts, Corn futures were 4¢ to 7¢ higher, supported by a hot forecast and stronger weekly export sales. Kansas City Wheat futures were 1¢ to 6¢ lower. Soybean futures were 5¢ to 13¢ higher.

2024-06-13T19:31:06-06:00

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