Cattle Current Podcast—Oct. 8, 2020

Cattle Current Podcast—Oct. 8, 2020

Although there were too few transactions to trend, there were some early dressed trades in Nebraska and the western Corn Belt on Wednesday at $169/cwt, according to the Agricultural Marketing Service (AMS). That’s was $1-$2 higher than last week.

Cattle feeders offered 470 head (three lots) in the weekly Fed Cattle Exchange auction. Of those, 367 head (two lots from Texas) sold for delivery at 1-17 days for a weighted average price of $108.50, which was mostly $1.50 higher than last week’s country trade in the region.

Slaughter steers and heifers sold $2-$3 higher at Sioux Falls Regional in South Dakota. There were 406 head of Choice 3-4 steers weighing an average of 1,562 lbs. and bringing an average price of $106.35.

At the fat auction in Tama, IA, Choice steers and heifers sold $2 higher, with 194 head of Choice 2-4 steers weighing an average of 1,421 lbs. and bringing an average price of $108.07.

Cattle futures firmed with the outlook for steady to higher cash fed cattle prices this week.

Live Cattle futures closed mostly higher across a wide range. Except for unchanged and 7¢ lower in the back two contracts, they closed an average of 48¢ higher (12¢ to $1.15 higher).

Feeder Cattle futures closed mostly narrowly higher. Except for 15¢ and 40¢ lower in two contracts, they were an average of 18¢ higher.

Choice boxed beef cutout value was 68¢ higher Wednesday afternoon at $216.88/cwt. Select was $1.26 lower at $205.58.

Corn  futures closed 2¢ to 3¢ higher through Jly ’21 and then mostly fractionally mixed.

Soybean futures closed 7¢ and 6¢ higher in the front two contracts and then mostly 3¢ to 5¢ lower.

2020-10-08T14:37:31-05:00

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