Cattle Current Podcast—May 9, 2022

Cattle Current Podcast—May 9, 2022

Corn futures closed mostly 11¢ to 18¢ lower on Friday, which helped lift Feeder Cattle futures an average of 77¢ higher (32¢ higher toward the front to $1.37 higher at the back), except for 77¢ lower in spot May. Soybean futures closed 20¢ to 25¢ lower. 

On the other hand, Live Cattle futures closed an average of 50¢ lower (25¢ lower toward the back to $1.02 lower in spot Jun), except for 35¢ higher in the back contract. They sagged with lower wholesale beef prices and waning cash momentum.

Week to week on Friday, Choice boxed beef cutout value was $6.34 lower at $254.44/cwt. Select was $2.91 lower at $245.06. That’s $13.47 lower for Choice over the last two weeks and $9.71 lower for Select.

Estimated total cattle slaughter last week of 657,000 head was 8,000 head more than the previous week and 18,000 more than the same week last year. Estimated total year-to-date cattle slaughter of 11.66 million head was 61,000 head more (+0.5%) than the same time last year. Estimated total year-to-date beef production of 9.74 billion lbs. was 81.6 million lbs. more (+0.8%) year over year.

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

Last week, live prices were steady at $140/cwt. in the Texas Panhandle and at $146 in Nebraska. Prices were steady to $2 lower in Kansas at $138-$140, $2 lower to $1 higher in Colorado at $142-$146 and $1 higher to $1 lower in the western Corn Belt at $146. Dressed prices were steady in Nebraska at $232 and steady to $2 lower in the western Corn Belt at $230-$232.

2022-05-08T14:14:19-05:00

This Is A Custom Widget

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.

This Is A Custom Widget

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.

This Is A Custom Widget

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.

This Is A Custom Widget

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.