Cattle Current Market Update with Wes Ishmael
Cattle Current Podcast—Jan. 23, 2023
Cattle futures mainly gained Friday helped along by higher outside markets.
Feeder Cattle futures closed an average of 74¢ higher (30¢ to $1.42 higher), except for 17¢ lower in spot Jan.
Live Cattle futures closed an average of 48¢ higher (12¢ higher at the back to 80¢ higher near the front).
Corn futures firmed and closed fractionally mixed with stronger weekly U.S. export sales.
Soybean futures were down again — mostly 12¢ to 13¢ lower — with more favorable moisture in Argentina.
Negotiated cash fed cattle trade was slow on light demand through Friday afternoon, according to the Agricultural Marketing Service.
For the week, live prices were $1 lower in the Southern Plains at $155/cwt. and $1-$2 lower in Nebraska at $155. Dressed sales in Nebraska were $2-$4 lower at $248. Live and dressed sales in the Western Corn Belt the previous week were $158 and $250-$252, respectively.
Choice boxed beef cutout value was 21¢ higher Friday afternoon at $271.72/cwt. Select was 74¢ higher at $256.43/cwt.