Cattle Current Market Update with Wes Ishmael
Cattle Curent Podcast—Jan. 26, 2023
Cattle futures edged higher Wednesday with fundamental support and simmering ahead of cash direction.
Feeder Cattle futures closed an average of 40¢ higher, except for 5¢ lower in the back contract.
Live Cattle futures closed an average of 23¢ higher, except for 25¢ lower in spot Feb.
Corn futures closed mostly 2¢ to 3¢ lower.
KC HRW Wheat futures closed 5¢ to 9¢ higher.
Soybean futures closed mostly 5¢ to 9¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $155/cwt. in the Southern Plains and Nebraska, and $156-$158 in the western Corn Belt. Dressed prices were $248-$250.
Choice boxed beef cutout value was $1.36 lower Wednesday afternoon at $268.28/cwt. Select was 59¢ lower at $251.80/cwt.