Cattle Current Market Update with Wes Ishmael
Cattle Current Podcast—Jan. 30, 2023
Cattle futures mostly edged higher Friday with support from weaker Corn futures.
Feeder Cattle futures closed an average of 40¢ higher, except for an average of 15¢ lower in the back two contracts.
Live Cattle futures closed an average of 15¢ higher, except for unchanged in spot Feb.
Corn futures closed mostly 1¢ to 3¢ lower.
KC HRW Wheat futures closed 1¢ to 5¢ higher through May ‘24 and then mostly 2¢ lower to 1¢ higher.
Soybean futures closed 2¢ to 14¢ lower through Sep ‘23, and then mostly 3¢ higher.
Negotiated cash fed cattle trade ranged from limited on light demand to mostly inactive on light demand with too few transactions to trend through Friday afternoon, according to the Agricultural Marketing Service.
For the week dressed prices were steady in Nebraska at $248/cwt. and steady to $2 lower in the western Corn Belt at $248, where live prices were $1-$4 lower at $152-$157.
The previous week, live prices were $155 in the Southern Plains and Nebraska.
Choice boxed beef cutout value was 99¢ lower Friday afternoon at $267.76/cwt. Select was 94¢ lower at $250.54/cwt.