Cattle Current Podcast-October 26

There wasn’t much country trade to speak of, and there were only 897 head offered in the weekly Fed Cattle Exchange auction, with no sales.

However, slaughter steers sold mostly $1-$2 higher at Sioux Falls in South Dakota. Slaughter heifers sold mostly $2 higher.

So, that and other factors including chatter about tighter front end supplies suggest odds continue to favor higher cash fed cattle prices this week.

Cattle futures received support early with follow-through buying from the previous day’s rally. Although that support faded, futures were confined to a narrow trading range and managed a mixed close.

Live Cattle futures closed narrowly mixed (after 60¢ and 45¢ lower in the front two contracts, mainly 2¢ to 27¢ higher).

After 27¢ lower and 5¢ higher in the front two contracts, Feeder Cattle futures closed an average of 57¢ higher.

Choice boxed beef cutout value was 8¢ higher Wednesday afternoon at $200.21/cwt. Select was 30¢ lower at $192.39.