Cattle Current Podcast—Sept. 26, 2023

Cattle Current Podcast—Sept. 26, 2023

Cattle futures basically paddled in place Monday, looking for further direction and amid firmer Corn futures.

Feeder Cattle futures closed an average of 33¢ lower, except for 25¢ higher in the back contract.

Live Cattle futures closed mixed, from an average of 15¢ lower to an average of 19¢ higher.

Negotiated cash fed cattle trade was at a standstill in all regions through Monday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were steady to $1 higher in the Southern Plains at $183/cwt., steady in Nebraska at $184-$185 and steady to $1 higher in the western Corn Belt at $185-$186. Dressed delivered prices were steady at $292.

The weighted average five-area direct fed steer price was 69¢ higher on a live basis at $184.73/cwt. and 15¢ higher in the beef at $291.99.

Choice boxed beef cutout value was $1.85 lower Monday afternoon at $301.48/cwt. Select was 2¢ higher at $280.45/cwt.

Grain and soybean futures strengthened on Monday.

Corn futures closed 2¢ to 4¢ higher.

KC HRW Wheat closed mostly 3¢ to 4¢ higher.

Soybean futures closed mostly 3¢ to 5¢ higher.

2023-09-25T19:06:59-05:00

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