Cattle Current Podcast—June 30, 2023

Cattle futures continued to gain Thursday on Corn weakness.

Feeder Cattle futures closed an average of $1.41 higher (90¢ to $2.12 higher).

Live Cattle futures closed an average of 43¢ higher.

Corn futures closed 6¢ to 9¢ lower.

Soybean futures closed mostly fractionally lower to 4¢ lower, except for gains in the front four contracts.

KC HRW Wheat closed mostly 7¢ to 10¢ lower.

Negotiated cash fed cattle trade ranged from mostly limited on light demand to mostly inactive on light demand through Thursday afternoon, according to the Agricultural Marketing Service.

There were a few live trades in Nebraska at $182/cwt., but too few to trend.

So far this week, live sales in Kansas are $2 lower at $178.

Last week, live prices were $180/cwt. in the Southern Plains $182-$185 in Nebraska and $184-$185 in the western Corn Belt. Dressed prices were $290.

Choice boxed beef cutout value 15¢ higher Thursday afternoon at $328.05/cwt. Select was 50¢ higher at $297.18/cwt.