Cattle Current Podcast—Oct. 12, 2023

Cattle Current Podcast—Oct. 12, 2023

Cattle futures finally found some traction Wednesday on oversold conditions and a promising start to the week’s cash fed cattle trade.

Feeder Cattle futures closed an average of $1.37 higher.

Live Cattle futures closed an average of $1.39 higher (85¢ to $1.97 higher).

Negotiated cash fed cattle trade and demand were moderate in the Southern Plains through Wednesday afternoon, with FOB live prices mostly $1 higher at mainly $183/cwt., according to the Agricultural Marketing Service.

Elsewhere, trade was limited on light demand, with too few transactions to trend.

Last week, FOB live prices were $183-$184 in Nebraska and the western Corn Belt. Dressed delivered prices were $288-$290.

Choice boxed beef cutout value was 78¢ lower Wednesday afternoon at $300.28/cwt. Select was 85¢ lower at $275.30/cwt.

Grain futures had a wait-and-see feel ahead of Thursday’s World Agricultural Supply and Demand Estimates.

Corn futures closed mostly 2¢ to 3¢ higher.

Soybean futures closed 12¢ to 19¢ lower through Aug ‘24 and then 8¢ to 10¢ lower.

KC HRW Wheat closed 4¢ to 5¢ lower.

2023-10-11T19:29:06-06:00

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