Cattle Current Podcast—May 7, 2020

Cattle Current Podcast—May 7, 2020

Negotiated cash fed cattle prices bounced higher in some areas Wednesday, although the wide spread continues.

Live prices in the Southern Plains were mostly $5 higher than the previous week at mainly $110/cwt.

Dressed sales in the western Corn Belt were mainly $20-$30 higher than the previous week at mostly $180.

Prices in Nebraska were mostly steady at $95 on a live basis and at mostly $150 in the beef.

Cattle feeders offered 5,119 head in the weekly Fed Cattle Exchange auction on Wednesday. Of those, 679 head sold for a weighted average price of $95.05/cwt.; all from the Southern Plains and for delivery at 1-17 days.

Higher cash prices and growing optimism about packing capacity moving beyond an established low point lifted Cattle futures mostly limit higher on Wednesday.

Live Cattle futures closed an average of $2.93 higher, limit up through the front six contracts.

Feeder Cattle futures closed from an average of $4.33 higher, limit up $4.50 in the front five contracts.

Wholesale beef values took yet another step higher. Choice boxed beef cutout value was $20.19 higher Wednesday afternoon at a $449.18/cwt. Select was $21.25 higher at $431.96.

Corn futures closed 1¢ to 3¢ lower.

Soybean futures closed mostly 7¢ to 10¢ lower.

2020-05-06T20:16:58-05:00

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