Cattle Current Podcast—May 27, 2022

Cattle futures softened with the week’s weaker cash prices.

Feeder Cattle futures closed an average of 80¢ lower, from 2¢ lower in waning spot May to $1.32 lower.

Live Cattle futures closed an average of 33¢ lower, except for an average of 8¢ higher in the front two contracts.

Negotiated cash fed cattle trade ranged from slow trade on light demand to mostly inactive on very light demand through Thursday afternoon, according to the Agricultural Marketing service.

Although too few to trend, there were a few live trades in Kansas at $136/cwt. and a few dressed trades in Nebraska at $224.

Established live cattle prices so far this week are $1 lower in the Southern Plains at $137, steady to $2 lower in Nebraska at $140 and $2 lower in the western Corn Belt at $140. Dressed prices are $3 lower in Nebraska at $223.

Choice Boxed beef cutout value was $1.04 higher Thursday afternoon at $263.97/cwt. Select was 37¢ higher at $244.43.

Corn futures closed mixed, 3¢ to 5¢ lower in new-crop contracts and then mostly fractionally higher to 1¢ higher.

Soybean futures closed 30¢ to 45¢ higher through Jan ’23 and then mostly 13¢ to 24¢ higher, helped along by oil prices.