Cattle Current Podcast—March 21, 2019

Cattle Current Podcast—March 21, 2019

Lean Hog futures continued their recent and aggressive rally Wednesday, providing lift to Cattle futures, especially Feeder Cattle.

Live Cattle futures closed an average 69¢ higher.

Except for unchanged and 52¢ higher in the front two contracts, Feeder Cattle futures closed an average of $1.74 higher.

Stronger futures, continued strength in wholesale beef values and the latest winter storm offer hopes of higher cash fed cattle prices this week; surely no worse than steady.

There were 596 head offered in the weekly Fed Cattle Exchange auction Wednesday; no takers.

Choice 2-4 steers sold mainly steady at the fat auction in Tama, IA: $127.28/cwt. for 150 head weighing an average of 1,406 lbs. At Sioux Falls Regional in South Dakota, Ch 2-4 steers brought $126.00-$127.75.

Corn futures closed mostly fractionally higher.

Soybean futures closed unchanged to 2¢ higher.

Wholesale beef values were weak to lower on light to moderate demand and offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was 66¢ lower Wednesday afternoon at $228.67/cwt. Select was 83¢ lower at $218.63.

2019-03-20T19:44:38-05:00

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