Cattle Current Podcast—March 4, 2022

Cattle Current Podcast—March 4, 2022

After a day’s reprieve, wheat soared higher, boosting front-month Corn and Soybean futures. K.C. Wheat was 75¢ higher in the front four contracts.

Corn futures closed 9¢ to 22¢ higher in the front three contracts and then mostly 4¢ to 11¢ lower.

Soybean futures closed 2¢ to 4¢ higher in the front two contracts and then mostly 8¢ to 11¢ lower.

Stouter feed prices took Cattle futures down another peg.

Feeder Cattle futures closed an average of $1.68 lower, erasing much of the headway made in the previous session.

Live Cattle futures closed an average of 72¢ lower (12¢ to $1.75 lower), except for 15¢ higher in the back contract.

Negotiated cash fed cattle trade ranged from limited on light demand to mostly inactive on light demand with too few transactions to trend in any region, according to the Agricultural Marketing Service.

So far this week, live prices are $2 lower in the Southern Plains at $140/cwt., $2-$4 lower in Nebraska at $140 and $2 lower in the western Corn Belt at $142. Dressed prices are $2-$3 lower at $224-$225.

Choice boxed beef cutout value was $1.37 lower Thursday afternoon at $254.35/cwt. Select was $3.55 lower at $247.79.

2022-03-03T20:08:56-05:00

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