Cattle Current Podcast—Oct. 2, 2019

Cattle Current Podcast—Oct. 2, 2019

Cattle futures closed lower Tuesday, with pressure including technical correction, sharp declines in front-month Lean Hogs and the fact that Corn futures were an average of 17¢ higher week to week through the front four contracts.

Except for 5¢ and 7¢ higher on either end of the board, Live Cattle futures closed an average of 35¢ lower.

Feeder Cattle futures closed an average of $1.21 lower (75¢ to $1.75 lower).

Wholesale beef values were higher on Choice and lower on Select, with moderate to good demand and offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was $1.03 higher Tuesday afternoon at $213.47/cwt. Select was $1.06 lower at $186.05.

Corn and soybean futures continued higher Tuesday, with follow-through support from the previous day’s Grain Stocks report and on likely short covering.

Corn futures closed 3¢ to 5¢ higher through Jul ’20 and then mostly unchanged to 1¢ lower.

Soybean futures closed 10¢ to 13¢ higher through May ’20 and then 3¢ lower to 9¢ higher.

2019-10-01T19:12:59-06:00

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