Cattle Current Podcast—March 1, 2023

Cattle Current Podcast—March 1, 2023

Cattle futures continued higher Tuesday, supported by further downward correction in Corn futures and another day of higher wholesale beef values.

Feeder Cattle futures closed an average of 70¢ higher.

Live Cattle futures closed an average of 47¢ higher, except for $2.50 higher in expiring Feb.

Choice boxed beef cutout value was 61¢ higher Tuesday afternoon at 288.95/cwt. Select was even at $279.25/cwt.

Negotiated cash fed cattle trade ranged from limited on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service. There were a few early live trades in the western Corn Belt at $165/cwt., but too few to trend.

Last week, live prices were mostly at $164/cwt. in all regions, which was $2 higher in the Southern Plains, $3-$4 higher in Nebraska and $2-$4 higher in the western Corn Belt. Dressed prices were $3 higher in Nebraska at $260 and $3-$5 higher in the western Corn belt at $260-$262.

Erosion in grain and Soybean futures continued Tuesday as it appears export demand concerns and the promising domestic production outlook have funds on the defensive.

Corn futures closed 11¢ to 13¢ lower through old crop contracts, and then mostly 6¢ lower.

KC HRW Wheat closed 2¢ to 7¢ lower through Jly ‘24 and then mostly 6¢ higher.

Soybean futures closed mostly 22¢ to 32¢ lower through Aug ’24 and then 17¢ to 19¢ lower.

2023-02-28T17:57:50-05:00

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This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.