Cattle Current Podcasts—March 15, 2022

Cattle Current Podcasts—March 15, 2022

Cattle futures rallied higher Monday, helped along by sharply lower nearby Corn futures prices, as well as the nascent seasonal increase in wholesale beef prices.

Feeder Cattle futures closed an average of $3.08 higher from $2.07 higher at the back to $4.42 toward the front.

Live Cattle futures closed an average of $1.65 higher, from $1.17 higher in the back contract to $3.02 higher in spot Apr.

Weakness in grain futures was apparently tied to a risk-off mentality across many commodities, including Crude Oil, as well as reports China is releasing some of its state-owned soybean stocks to combat domestic inflation.

Expiring spot Corn futures closed 36¢ lower, but mostly other contracts were mainly 1¢ to 3¢ lower.

Soybean futures closed 7¢ to 8¢ lower.

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

Live prices last week were at $138/cwt. in the Southern Plains and Nebraska and at $138-$140 in the western Corn Belt. Dressed prices were $220 in Nebraska and $219-$222 in the western Corn Belt.

The five-area direct average fed steer price was $2.30 less last week at $138.30/cwt. The average steer price in the beef was $4.50 less at $220.01.

Early chatter anticipated cash fed cattle prices trading steady to a touch higher this week.

Choice Boxed beef cutout value was 80¢ higher Monday afternoon at $255.51/cwt. Select was 83¢ higher at $249.94.

2022-03-14T21:32:10-05:00

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This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.