Cattle Current Podcast—Oct. 22, 2024

Cattle Current Podcast—Oct. 22, 2024

Cattle futures softened Monday, likely nudging chart resistance and perhaps with some early positioning ahead of Friday’s monthly Cattle on Feed report.

Toward the close, Live Cattle futures were an average of 50¢ lower. Feeder Cattle futures were an average of $1.10 lower.

Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were mainly $1 higher in the Southern Plains at $188/cwt. and steady in the North at $187-$188/cwt. with dressed delivered prices also steady at $296.

The weighted average five-area direct FOB live fed steer price last week was $187.61/cwt., which was 40¢ more than the previous week. The weighted average dressed delivered steer price was 29¢ higher at $296.21.

Choice boxed beef cutout value was $2.21 higher Monday afternoon at $322.86/cwt. Select was $2.01 higher at $296.21.

Corn and Soybean futures were higher Monday, helped by recent export sales.

Toward the close and through Sep ’25 contracts, Corn futures were mostly 3¢ to 4¢ higher. Soybean futures were 4¢ to 10¢ higher. Kansas City Wheat futures were mostly 1¢ higher.

2024-10-21T19:01:02-06:00

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