Cattle Current Podcast—Sept. 21, 2021

Cattle Current Podcast—Sept. 21, 2021

Plenty of Monday’s market attention was focused beyond cattle to equities and other commodities as Wall Street investors sold heavily, apparently mostly due to concerns tied to China’s property market. Fears are a potential global domino effect in financial markets on top of ongoing worries about the pandemic and economic growth. The Dow Jones Industrial Average was down 614 points, the S&P 500 closed 75 points lower and the NASDAQ was down 330 points.

Despite the heavy outside pressure, Cattle futures held their own.

Feeder Cattle futures closed an average of 29¢ higher, except for unchanged in Mar and 5¢ lower in May.

Live Cattle futures closed an average of 16¢ lower except for 55¢ higher in near Dec.

Corn futures closed 2¢ to 5¢ lower through new-crop contracts and then mostly 1¢ lower to 1¢ higher.

Soybean futures closed mostly 15¢ to 21¢ 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, prices were steady to unevenly steady in the Southern Plains and Nebraska with live prices at $124/cwt. in the Texas Panhandle, $123-$124 in Kansas and $124 in Nebraska. Live prices in the western Corn Belt were $1-$3 lower at $123-$124. Dressed traded was unevenly steady at $200 in Nebraska but unevenly steady to $4 lower in the western Corn Belt at $196-$200.

Choice boxed beef cutout value was $1.19 higher Monday afternoon at $315.66/cwt. Select was $1 higher at $280.75.

2021-09-20T20:41:57-06:00

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