Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to slow with moderate demand through Wednesday afternoon, according to the Agricultural Marketing Service.
So far this week, live prices are steady to $2 higher in the Texas Panhandle at $136-$138/cwt., $4 higher in Colorado at $145, $2-$4 higher in Nebraska at $145 and $2-$3 higher in the western Corn Belt at $144-$145. Dressed prices are $4-$5 higher at $230. Live prices in Kansas last week were $137-$138.
Cash price strength helped boost Cattle futures.
Feeder Cattle futures closed an average of $1.22 higher (55¢ to $1.97 higher).
Live Cattle futures closed an average of $1.22 higher (20¢ higher toward the back to $2.72 higher toward the front).
Choice Boxed beef cutout value was $1.22 lower through Wednesday afternoon at $268.22/cwt. Select was $1.14 lower at $245.68.
Corn futures closed mostly fractionally mixed, except for 5¢ higher in the spot month.
Soybean futures closed mostly 1¢ to 2¢ lower through Sep ‘23 and then mostly fractionally lower.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More