Cattle Current Podcast-June 16

Cattle Current Podcast-June 16

Negotiated cash fed cattle trade and demand were light in Nebraska through Thursday afternoon. There were a few live purchases at mostly $124.00-126.50/cwt.; $6.00-$6.50 less than trades in the region earlier in the week. The few dressed sales there at $205-$208 were $5-$7 less than earlier-week sales, but too few transactions to trend in both cases. The bulk of live purchases in Nebraska for the week were on Monday at $132, while dressed purchases on Tuesday traded at $210-$215.

Following early support, front-month Live Cattle futures lost ground with bearish sentiment and a decline in wholesale beef values. Feeder Cattle futures, on the other hand, closed mixed with the strongest gains at the front of the board.

Live Cattle futures closed $2.00 lower in spot June, 37¢ and 10¢ lower in Aug and Oct, respectively, and then an average of 23¢ higher.

Feeder Cattle futures closed an average of 80¢ higher through the front three contracts, an average of 22¢ higher in the next three and then 25¢ lower and unchanged at the back.

Choice boxed beef cutout value was $1.29 lower Thursday afternoon at $249.74/cwt. Select was 13¢ lower at $220.53.

2017-06-15T20:06:45+00:00

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