Cattle Current Podcast—Sept. 9, 2019

Cattle Current Podcast—Sept. 9, 2019

Live sales ended up $3 lower in the Southern Plains last week at $100/cwt., $4-$6 lower in Nebraska at mostly $100 and $2-$5 lower in the western Corn Belt at $102-$107. Dressed sales were $9-$10 lower in Nebraska at $160-$166; $7-$9 lower in the western Corn Belt at $163-$166.

Cattle futures, especially Live Cattle closed sharply lower Friday, with pressure including the softer fed cattle prices, declining wholesale beef values and mounting technical pressure.

Live Cattle futures closed an average of $2.12 lower in the front four contracts (including limit down in spot Oct) and then an average of 68¢ lower.

Feeder Cattle futures closed an average of 94¢ lower.

Wholesale beef values were lower on light demand and heavy offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was $2.11 lower Friday afternoon at $227.31/cwt. Select was $2.53 lower at $201.94.

Corn futures closed 2¢ to 3¢ lower through Dec ’20 and then mostly 1¢ lower. 

Soybean futures closed 2¢ to 4¢ lower through May ’20 and then mostly 1¢ lower.

2019-09-08T12:58:53-06:00

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