Cattle Current Podcast—Sept. 5-6, 2022

Cattle Current Podcast—Sept. 5-6, 2022

Cattle futures extended gains Friday with support from higher wholesale beef prices and despite higher Corn futures.

Feeder Cattle futures closed an average of 61¢ higher (25¢ at the back to 75¢ higher).

Live Cattle futures closed an average of 92¢ higher (25¢ higher at the back to $1.75 higher at the front).

Choice Boxed beef cutout value was $1.35 higher Friday afternoon at $259.42/cwt. Select was $1.99 higher at $238.58/cwt.

Negotiated cash fed cattle trade was mostly inactive on light demand in all cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.

For the week, live prices were $1 lower in the Southern Plains at $141/cwt., $2 lower in Nebraska at $143 and $4 lower in the western Corn Belt at $143-$144. Dressed prices were $4 lower in Nebraska at $228 and $2-$4 lower in the western Corn Belt at $228-$232.

Estimated year-to-date total cattle slaughter Sept. 2 was 22.7 million head, which was 282,000 head more (+1.3%) than the same time last year. Estimated year-to-date beef production was 18.74 billion lbs., which was 192.1 million lbs. more (+1.0%) than a year earlier.

Corn and Soybean futures bounced back Friday with support including positive export announcements.

Corn futures closed mostly 6¢ to 7¢ higher. Soybean futures closed mostly 21¢ to 25¢ higher through Aug. 23 and then mostly 14¢ higher.

2022-09-05T12:23:40-05:00

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