Cattle Current Podcast—Oct. 11, 2019

Cattle Current Podcast—Oct. 11, 2019

Negotiated cash fed cattle trade remained undeveloped through Thursday afternoon.

Feeder Cattle futures crept mostly higher, while Live Cattle hovered amid sluggish two-sided trading.

Except for 25¢ higher in the front two contracts Live Cattle futures closed an average of 28¢ lower.

Except for 20¢ and 12¢ lower in the front two contracts, Feeder Cattle futures closed an average of 58¢ higher (10¢ to 95¢ higher). 

Wholesale beef values were firm to higher on moderate demand and offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was $1.03 higher Thursday afternoon at $215.63/cwt. Select was 54¢ higher at $186.66.

Corn futures closed 12¢ to 14¢ lower through Jul ’20 and then 1¢ to 4¢ lower. Thursday’s World Agricultural Supply and Demand Estimates (see below) were much more production friendly than traders and pre-report estimates expected.

Soybean futures closed fractionally lower through Aug ’20 and then mostly 2¢ to 4¢ lower.

2019-10-10T19:20:27-06:00

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