Cattle Current Podcast—March 8, 2022

Cattle Current Podcast—March 8, 2022

Cattle futures reversed direction to the upside Monday, despite sharply lower outside markets and grain market strength tied to Russia’s attack on Ukraine. Positioning and bottom-picking likely explain much of the move, while underscoring the unaltered, positive supply fundamentals.

Feeder Cattle futures closed an average $1.86 higher ($1.12 to $2.55 higher).

Live Cattle futures closed average $1.44 higher (50¢ to $2.15 higher).

Negotiated cash fed cattle trade ranged from a standstill to mostly inactive on very light demand in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.

Live prices last week were at $140/cwt. in the Southern Plains and Nebraska; $142 in the western Corn Belt. Dressed prices were at $224-$225.

Wholesale beef prices added support with Choice Boxed beef cutout value 38¢ higher Monday afternoon at $254.71/cwt. and  Select $1.81 higher at $250.22.

Wheat futures continued to lead Corn futures mostly higher Monday. Kansas City Wheat futures were mostly 39¢ to 85¢ higher Monday, as rationing continues due to the war in Eastern Europe

Corn futures closed 9¢ to 18¢ higher, except for 3¢ and 7¢ lower in the front two contracts.

Soybean futures closed mostly 10¢ to 14¢ lower.

2022-03-07T20:46:55-05:00

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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.