Cattle Current Podcast—June 30, 2022

Cattle Current Podcast—June 30, 2022

Negotiated cash fed cattle trade was light to moderate on moderate demand in Nebraska and the Southern Plains through Wednesday afternoon, according to the Agricultural Marketing Service.

Live prices were steady in the Texas Panhandle at $138/cwt, steady to $1 higher in Kansas at $138 and steady to $3 higher in Nebraska at $145-$151. Dressed prices in Nebraska were steady at $234.

Elsewhere, trade was limited on moderate demand with too few transactions to trend. Last week live prices were $145 in Colorado and $145-$150 in the western Corn Belt, where dressed prices were $234-$240.

Choice Boxed beef cutout value was $2.26 lower through Wednesday afternoon at $264.88/cwt. Select was $2.50 lower at $240.81.

Cattle futures extended losses Wednesday, with a lack of cash direction early in the session. 

Feeder Cattle futures closed an average of 66¢ lower (7¢ lower toward the back to $1.17 lower toward the front).

Live Cattle futures an average of 53¢ lower, except for 50¢ higher in expiring spot Jun.

Corn and Soybean futures closed mixed ahead of Thursday’s much-anticipated USDA Grain Stocks and Acreage reports. 

Corn futures closed 5¢ to 6¢ lower through new-crop contracts and then mostly fractionally higher to 1¢ higher. 

Soybean futures closed 10¢ to 15¢ higher through Aug ‘23. And then 8¢ to 9¢ higher.

2022-06-29T20:20:38-05:00

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