Cattle Current Podcast—Sept. 19, 2019

Cattle Current Podcast—Sept. 19, 2019

Negotiated cash fed cattle prices took on a firmer feel Wednesday.

There were 1,229 head offered in the weekly Fed Cattle Exchange auction. Of those, 281 head—two lots in the Southern Plains—sold for a weighted average price of $101.13/cwt., for delivery at 1-9 days. That’s $1-$2 more than negotiated trade in the region last week.

Slaughter steers and heifers sold $3-$5 higher at Sioux Falls Regional in South Dakota. Choice 2-3 steers (319 head) averaged $103.40. Country trade in the region last week was at $101-$102.

Likewise, steers and heifers sold $4-$5 higher at the fat auction in Tama, IA. Choice 2-4 steers (197 head) averaged $107.54.

That helped Cattle futures close higher, despite continued erosion in wholesale beef values.

Except for an average of 10¢ lower in the back two contracts, Live Cattle futures closed an average of 59¢ higher.

Feeder Cattle futures closed an average of 76¢ higher.

Wholesale beef values were lower on light demand and heavy offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was $1.53 lower Wednesday afternoon at $218.24/cwt. Select was $1.94 lower at $191.97.

Corn futures closed 2¢ to 3¢ higher through the front three contracts and then mostly fractionally higher.

Soybean futures closed mostly 4¢ lower.

2019-09-18T23:25:49-06:00

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