Cattle Current Market Update with Wes Ishmael
Cattle Current Podcast — Jan. 19, 2023
Weaker Corn futures — mostly 1¢ to 4¢ lower — helped lift Feeder Cattle futures an average of 95¢ higher Wednesday (42¢ to $1.55 higher), except for 15¢ lower in spot Jan.
Live Cattle futures closed an average of 17¢ higher, except for an average of 10¢ lower in three contracts.
Soybean futures closed 13¢ to 19¢ lower.
Negotiated cash fed cattle trade ranged from limited on light demand to mostly inactive on very light demand in the North through Wednesday afternoon, with too few transactions to trend. Trade was at a standstill in the Southern Plains, according to the Agricultural Marketing Service.
Last week, prices were $156/cwt. on a live basis in the Southern Plains, $156-$157 in Nebraska and $158 in the western Corn Belt. Dressed prices were $250-$252
Choice boxed beef cutout value was $2.58 lower Wednesday afternoon at $274.08/cwt. Select was 67¢ lower at $253.86/cwt.