Cattle Current Podcast—June 3, 2020

Negotiated cash fed cattle trade continued on Tuesday up north with dressed sales steady to $9 lower than the previous day at mostly $178/cwt.

Softer cash tones and the expected plunge in wholesale beef values pressured Cattle futures.

Except for 42¢ lower in the back two contracts, Live Cattle futures closed an average of $1.83 lower, from $1.07 lower toward the back to limit $3 lower in spot Jun.

Feeder Cattle futures closed an average of $2.01 lower. 

Choice boxed beef cutout value was $22.42 lower Tuesday afternoon at $318.73/cwt. Select was $26.25 lower at $290.58. 

Corn futures closed mostly 2¢ to 3¢ higher. 

Soybean futures closed 7¢ to 10¢ higher through Aug ’21 and then mostly 4¢ higher, perhaps helped along by the notice of 132,000 metric tons of export sales to China for 2020-21.