Cattle Current Podcast—Sept. 13, 2019

Cattle Current Podcast—Sept. 13, 2019

Negotiated cash fed cattle trade remained mainly undeveloped through Thursday afternoon. USDA reported some live trade in the Texas Panhandle at $99/cwt., at the upper end of the $97-$99 price range paid in the region so far this week. Live sales there last week were at $100.

Despite early pressure, Cattle futures continued to extend gains on Thursday, helped by the limit-up move in Lean Hog futures—across all but the back contract—presumably stemming from recent Chinese pork purchases and reports the U.S. will delay imposing additional tariffs, for a while.

Live Cattle futures closed an average of 60¢ higher (22¢ to $1.32 higher).

Feeder Cattle futures closed an average of 47¢ higher.

Wholesale beef values were steady on moderate demand and offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was 8¢ higher Thursday afternoon at $219.97/cwt. Select was 20¢ higher at $198.60.

Corn and Soybean futures climbed Thursday, especially soybeans, on reduced yield and production estimated in the monthly World Agricultural Supply and Demand Estimates.

Corn futures closed mostly 5¢ to 7¢ higher. 

Soybean futures closed 20¢ to 29¢ higher through Jan ’21 and then mostly 15¢ to 19¢ higher.

2019-09-12T19:32:40-05:00

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