Cattle Current Podcast—March 31, 2023

Cattle Current Podcast—March 31, 2023

Cash fed cattle prices jumped Thursday with moderate trade and good demand in all regions, according to the Agricultural Marketing Service.

Live prices were $2-$4 higher in the Texas Panhandle at $165-$167/cwt., mostly $4 higher in Kansas at $167, $5-$6 higher in Nebraska at $169-$171 and mostly $4-$5 higher in the western Corn Belt at $170. Dressed prices were mostly $5 higher at $270, with a few up to $275 in Nebraska and a few up to $276 in the western Corn Belt.

Choice boxed beef cutout value was $1.09 lower Thursday afternoon at $279.20/cwt. Select was 44¢ lower at $268.46/cwt.

Stronger cash prices pulled Cattle futures higher.

Feeder Cattle futures closed an average of $1.58 higher, (from 95¢ higher in expiring Mar to $1.92 higher).

Live Cattle futures closed an average of $1.03 higher (80¢ to $1.72 higher).

Corn futures closed mostly 3¢ to 4¢ lower through Jly ‘24, and then mostly 1¢ lower.

KC HRW Wheat closed mostly 1¢ higher.

Soybean futures closed mostly fractionally lower to 3¢ lower.

 

2023-03-30T18:26:00-05:00

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