Cattle Current Podcast—Sept. 25, 2024

Cattle futures were mixed but mostly higher Tuesday, supported by recently firmer wholesale beef prices stemming from slower packer production.

Recently firm and higher wholesale beef prices, as packers slow production, helped Cattle futures mostly extend gains Monday.

Heading into the close, Live Cattle futures closed an average of an average of 26¢ higher, except for an average of 3¢ lower in three contracts. Feeder Cattle futures were an average of 40¢ higher, except for an average of 6¢ lower in two contracts.

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

Last week, FOB live prices were $183/cwt. in the Southern Plains and $184-$185 in the north. Dressed delivered prices were $290-$292 in Nebraska and $290 in the western Corn Belt on a light test.

Choice boxed beef cutout value was 8¢ higher Tuesday afternoon at $301.89/cwt. Select was 92¢ lower at $286.87.

Grain and soybean futures closed mixed Tuesday.

Toward the close and through Sep ’25 contracts, Corn futures were fractionally lower to 1¢ lower. Kansas City Wheat futures were 3¢ to 6¢ lower. Soybean futures were 3¢ to 4¢ higher.