Cattle Current Podcast—Sept. 21, 2022

Cattle Current Podcast—Sept. 21, 2022

Feeder Cattle futures gave back the previous session’s gains and then some Tuesday, pressured by higher Corn futures.

Feeder Cattle futures closed an average of $1.80 lower Tuesday (35¢ lower at the back to $2.27 lower toward the front), giving back the previous session’s gains and then some. Much of the pressure came from Corn futures bouncing 12¢ to 13¢ higher through Jly ‘23 and then mostly 8¢ to 9¢ higher, supported by bleaker condition ratings than expected. Soybean futures closed 15¢ to 17¢ higher through Jly ‘23. and then mostly 7¢ to 9¢ higher.

Live Cattle futures closed an average of 12¢ lower, except for 27¢ higher in three contracts with firmness from growing optimism for higher cash fed cattle prices this week.

Negotiated cash fed cattle trade ranged from limited on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.

Live prices last week were $142/cwt. in the Southern Plains, $143 in Nebraska and $143-$145 in the western Corn Belt. Dressed prices were $226-$227 in Nebraska and $226 in the western Corn Belt.

Choice Boxed beef cutout value was 81¢ lower Tuesday afternoon at $251.64/cwt. Select was $1.34 higher at $227.23/cwt.

 

2022-09-21T10:35:24-06:00

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