Cattle Current Market Update with Wes Ishmael

Cattle Current Market Update with Wes Ishmael


Cattle Current Podcast—Sept. 13, 2023

September 12, 2023

Cattle futures crept mostly higher Tuesday.


Feeder Cattle futures closed an average of 54¢ higher, except for an average of 55¢ lower in the front two contracts.


Live Cattle futures closed an average of 18¢ higher, except for an average of 8¢ lower in two contracts.


Negotiated cash fed cattle trade ranged from mostly inactive to a standstill through Tuesday afternoon with too few transactions to trend according to the Agricultural Marketing Service.


Last week, FOB live prices were $180/cwt. in the Southern Plains and $183-$184 in the North.


Dressed delivered prices were $290 in Nebraska and $288-$290 in the western. Corn Belt.


Choice boxed beef cutout value was $2.08 lower Tuesday afternoon at $308.03/cwt. Select was $1.66 lower at $283.78/cwt.


Corn futures faltered Tuesday, closing mostly 6¢ to 9¢ lower on the monthly World Agricultural Supply and Demand Estimates, which pegged harvested acres and production higher than the trade expected.


KC HRW Wheat closed 4¢ to 7¢ higher.


Soybean futures closed 12¢ to 22¢ lower.