Cattle Current Podcast—Oct.22, 2021

Cattle Current Podcast—Oct.22, 2021

Negotiated cash fed cattle trade ranged from inactive on light demand to mostly inactive on light demand through Thursday afternoon, according to the Agricultural Marketing Service.

So far this week, live prices are steady in the Southern Plains at $124/cwt., steady to $2.50 higher in Nebraska at $124.00-$126.50 and steady to $1 higher in the western Corn Belt at $124-$125. Dressed prices are steady at $196.

Cattle futures closed mixed Thursday.

Live cattle were down an average of 63¢ lower on likely profit taking, pressure from Lean Hogs and positioning ahead of Friday’s Cattle on Feed report. Feeder Cattle managed to close narrowly mixed.

Feeder Cattle futures closed narrowly mixed, from an average of 36¢ lower to an average of 19¢ higher.

Choice boxed beef cutout value was 63¢ higher at $280.66/cwt. Select was 8¢ lower at $262.72/cwt.

As for grains, Corn and soybean futures closed lower Thursday beneath the weight of profit taking and lower crude oil prices.

Corn futures closed mostly 4¢ to 7¢ lower.

Soybean futures closed mostly 18¢ to 21¢ lower.

2021-10-21T20:17:48-06:00

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