Cattle Current Market Update with Wes Ishmael
Cattle Current Podcast—Jan. 27, 2023
Negotiated cash fed cattle trade was slow on light to moderate demand in Nebraska and the western Corn Belt through Thursday afternoon, according to the Agricultural Marketing Service.
Dressed prices were steady in Nebraska at $248/cwt. and steady to $2 lower in the western Corn Belt at $248.
Last week, live prices were $155/cwt. in the Southern Plains and Nebraska, and $156-$158 in the western Corn Belt.
Choice boxed beef cutout value was 47¢ higher Thursday afternoon at $268.75/cwt. Select was 32¢ lower at $251.48/cwt.
Cattle futures faltered Thursday with weaker early cash fed cattle trade and firmer Corn futures.
Feeder Cattle futures closed an average of $1.09 lower, except for 17¢ higher in expiring Jan.
Live Cattle futures closed an average of 68¢ lower.
Corn futures closed 4¢ to 7¢ higher through the front three contracts, and then mostly 1¢ to 2¢ higher.
KC HRW Wheat futures closed mostly 12¢ to 16¢ higher.
Soybean futures closed 13¢ to 21¢ higher through the front six contracts, and then mostly 5¢ to 7¢ higher.