Cattle Current Market Update with Wes Ishmael: Recent Episodes
Wes Ishmael: cattle business analyst and journalist
Cattle futures were mixed but mostly higher Tuesday, supported by recently firmer wholesale beef prices stemming from slower packer production.
Recently firm and higher wholesale beef prices, as packers slow production, helped Cattle futures mostly extend gains Monday.
Heading into the close, Live Cattle futures closed an average of an average of 26¢ higher, except for an average of 3¢ lower in three contracts. Feeder Cattle futures were an average of 40¢ higher, except for an average of 6¢ lower in two contracts.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183/cwt. in the Southern Plains and $184-$185 in the north. Dressed delivered prices were $290-$292 in Nebraska and $290 in the western Corn Belt on a light test.
Choice boxed beef cutout value was 8¢ higher Tuesday afternoon at $301.89/cwt. Select was 92¢ lower at $286.87.
Grain and soybean futures closed mixed Tuesday.
Toward the close and through Sep ’25 contracts, Corn futures were fractionally lower to 1¢ lower. Kansas City Wheat futures were 3¢ to 6¢ lower. Soybean futures were 3¢ to 4¢ higher.
Cattle futures furthered gains Monday with follow-through support from last week, as well as the neutral Cattle on Feed report.
Heading into the close, Live Cattle futures closed an average of an average of 88¢ higher. Feeder Cattle futures were an average of 75¢ higher.
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2-$3 higher in the Southern Plains at $183/cwt. and $1-$2 higher in the North at $184-$185. Dressed delivered prices were $2 higher in Nebraska at $290-$292 and from $2 higher to $4 lower in the western Corn belt at $290 in a light test.
The five-area direct weighted average FOB live steer price last week was $1.90 higher at $184.01. The weighted average dressed delivered steer price was 20¢ lower at $290.41.
Choice boxed beef cutout value was $1.62 higher Monday afternoon at $301.81/cwt. Select was 80¢ lower at $287.79.
Soybeans rallied Monday, boosted by thoughts that China’s easing monetary policy would spur demand. Corn and wheat followed with added support from South American weather worries.
Toward the close and through Jly ’25 contracts, Soybean futures were 24¢ to 27¢ higher. Corn futures were 10¢ to 11¢ higher. Kansas City Wheat futures were 12¢ to 13¢ higher.
Cattle futures continued higher Friday, spurred along by higher cash fed cattle prices.
Live Cattle futures closed an average of $1.01 higher across a wide range, from 5¢ higher at the back to $2.50 higher in spot Oct, except for 10¢ lower in away Dec.
Feeder Cattle futures were mixed Friday, closing from an average of 37¢ higher in five contracts to an average of 48¢ lower.
Week to week on Friday, Live Cattle futures closed an average of $2.92 higher, and Feeder Cattle futures closed an average of $4.52 higher.
Negotiated cash fed cattle trade was slow on light demand in the Texas Panhandle through Friday afternoon with FOB live prices $2 higher at $183/cwt., according to the Agricultural Marketing Service. Trade and demand were moderate in Kansas with FOB live prices $2-$3 higher at $183.
Trade and demand were moderate in the North. FOB live prices were $2-$3 higher in Nebraska at $184 and $1-$2 higher in the western Corn Belt at $184-$185. Dressed delivered prices were $2 higher in Nebraska at $290-$292. Dressed delivered prices the previous week were $288-$294 in the western Corn Belt.
Choice boxed beef cutout value was 63¢ higher Friday afternoon at $300.19/cwt. Select was 33¢ higher at $288.59.
Estimated total cattle slaughter last week of 610,000 head was 10,000 head fewer than the previous week and 17,000 head fewer than the previous year. Estimated year-to-date total cattle slaughter of 22.7 million head was 943,000 head fewer (-4%). Estimated year-to-date beef production of 19.1 billion pounds was 192.9 million pounds less (-1%).
Harvest pressure continued to weigh on grain futures Friday.
Corn futures were mostly 3¢ to 4¢ lower. Kansas City Wheat futures were fractionally lower to 1¢ lower. Soybean futures were mostly 1¢ to 2¢ lower.
Cattle futures bounced higher Thursday with support from bullish outside markets and perhaps with some positioning ahead of Friday’s monthly Cattle on Feed report.
Heading into the close, Live Cattle futures were an average of 94¢ higher. Feeder Cattle futures an average of $2.64 higher.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live FOB prices were $181/cwt. in the Texas Panhandle, $180-$181 in Kansas, $181-$182 in Nebraska and $182-$183 in the western Corn Belt. Dressed delivered prices were $288-$294.
Choice boxed beef cutout value was $1.82 lower Thursday afternoon at $299.56/cwt. Select was $1.49 lower at $288.26.
Net 2024 U.S. beef export sales of 15,500 metric tons for the week ending Sept. 12 were 36% more than the previous week and 2% more than the prior four-week average, according to USDA’s weekly report. Increases were primarily for South Korea, China, Japan, Canada and Mexico.
Harvest pressure and anemic export sales weighed on grain futures Thursday.
Toward the close and through Jly ’25 contracts, Corn futures were 5¢ to 7¢ lower. Kansas City Wheat futures were 11¢ to 13¢ lower. Soybean futures were mostly fractionally lower to 1¢ lower.
Cattle futures were narrowly mixed Wednesday as traders waited for weekly cash direction.
Heading into the close, Live Cattle futures were an average of 25¢ higher, except for unchanged and 32¢ lower on either end of the board. Feeder Cattle futures were an average of 28¢ higher, except for an average of 9¢ lower in three contracts.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live FOB prices were $181/cwt. in the Texas Panhandle, $180-$181 in Kansas, $181-$182 in Nebraska and $182-$183 in the western Corn Belt. Dressed delivered prices were $288-$294.
Choice boxed beef cutout value was $2.53 lower Wednesday afternoon at $301.38/cwt. Select was $2.47 lower at $289.75.
Heading toward the close and through Jly ’25 contracts, Grain futures were mixed Wednesday.
Toward the close and through Jly ’25 contracts. Corn futures were fractionally mixed. Kansas City Wheat futures were 1¢ lower. Soybean futures were mostly 5¢ to 8¢ higher, supported by early reports of lower yields than expected.
Cattle futures gained Tuesday.
Heading into the close, Live Cattle futures were an average of $1.11 higher. Feeder Cattle futures were an average of $1.80 higher
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live FOB prices were $181/cwt. in the Texas Panhandle, $180-$181 in Kansas, $181-$182 in Nebraska and $182-$183 in the western Corn Belt. Dressed delivered prices were $288-$294.
Choice boxed beef cutout value was 66¢ lower Tuesday afternoon at $303.91/cwt. Select was 8¢ higher at $292.22.
Heading toward the close and through Jly ’25 contracts, grain futures were narrowly changed. Corn futures were 1¢ to 2¢ higher. Kansas City Wheat futures were fractionally higher. Soybean futures were 2¢ higher.
Cattle futures were narrowly mixed Monday, with Live Cattle edging lower and Feeder Cattle mostly eking out gains.
Heading into the close, Live Cattle futures were an average of 21¢ lower. Feeder Cattle futures were an average of 30¢ higher, except for unchanged and 32¢ lower in two contracts.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, Live FOB prices were steady to $1 higher in the Texas Panhandle at $181/cwt., steady to $1 lower in Kansas at $180-$181, mostly steady in Nebraska at $181-$182 and steady to $2 higher in the western Corn Belt at $182-$183.
Dressed delivered prices were steady to $6 higher in Nebraska at $288-$294 and steady to $8 higher in the western Corn Belt at $288-$294.
The five-area direct weighted average FOB live steer price last week was 93¢ higher at $182.11/cwt. The weighted average dressed delivered price was $3.07 higher at $290.61.
Grain futures were lower Monday amid the improved international weather outlook and potential profit taking.
Toward the close and through Jly ’25 contracts, Corn futures were 1¢ to 3¢ lower. Kansas City Wheat futures were 18¢ to 19¢ lower. Soybean futures were 1¢ lower.
Cattle futures were narrowly mixed Friday, ending a week of recovery.
Live Cattle futures were an average of 15¢ higher, except for unchanged to 37¢ lower in the front three contracts. Feeder Cattle futures were an average of 38¢ lower.
Week to week on Friday, Live Cattle futures closed an average of $3.56 higher, gaining back a little more than what was lost the previous week. Feeder Cattle futures closed an average of $6.70 higher ($5.72 to $8.17 higher) during the same period.
Negotiated cash fed cattle trade ranged from limited on light to moderate demand in the Southern Plains to light on moderate demand in the North through Friday afternoon, according to the Agricultural Marketing Service.
For the week, Live FOB prices are steady to $1 higher in the Texas Panhandle at $181/cwt., steady to $1 lower in Kansas at $180-$181, mostly steady in Nebraska at $181-$182 and steady to $2 higher in the western Corn Belt at $182-$183.
Dressed delivered prices were steady to $6 higher in Nebraska at $288-$294 and $2-$6 higher in the western Corn Belt at $288-$294.
Choice boxed beef cutout value was $2.27 lower Friday afternoon at $304.91/cwt. Select was $1.47 lower at $294.17.
Estimated total cattle slaughter last week of 620,000 head was 78,000 more than the previous holiday-shortened week, but 11,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 22.1 million head was 932,000 head fewer (-4.1%). Estimated year-to-date beef production of 18.6 billion pounds was 204.1 million pounds less (-1.1%).
Corn futures faded the increased yield projections in Thursday’s monthly World Agricultural Supply and Demand Estimates.
Corn futures were mostly 3¢ to 6¢ higher. Kansas City Wheat futures were 10¢ to 13¢ higher. Soybean futures were 2¢ to 5¢ lower.
Cattle futures gained Thursday, supported by steady to higher cash prices and a late-day bounce in outside markets.
Heading into the close, Live Cattle futures were an average of 87¢ higher. Feeder Cattle futures were an average of $1.67 higher.
Negotiated cash fed cattle trade ranged from slow on light demand to mostly inactive on light demand through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, Live FOB prices are steady to $1 higher in the Texas Panhandle at $181/cwt. and steady to $1 lower in Kansas at $180-$181.
Last week, FOB live prices were $180-$181 in Nebraska and $180-$183 in the western Corn Belt. Dressed delivered prices were $288 in Nebraska and $286-$288 in the western Corn Belt.
Choice boxed beef cutout value was 18¢ lower Thursday afternoon at $307.18/cwt. Select was $1.26 higher at $295.64.
Corn futures faded the increased yield projections in Thursday’s monthly World Agricultural Supply and Demand Estimates.
Toward the close and through Jly ’25 contracts, Corn futures were fractionally higher 7¢ higher in expiring spot Sept. Kansas City Wheat futures were mostly fractionally lower. Soybean futures were 7¢ to 11¢ higher.
Cattle futures gained Wednesday with apparent optimism about the potential for higher cash fed cattle prices this week.
Heading into the close, Live Cattle futures were narrowly mixed, from an average of 71¢ higher. Feeder Cattle futures were an average of $1.62 higher.
Negotiated cash fed cattle trade ranged from slow on light demand to a standstill through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, Live FOB prices were $180-$181/cwt. in the Texas Panhandle, $181 in Kansas, $180-$181 in Nebraska and $180-$183 in the western Corn Belt
Dressed delivered prices were $288 in Nebraska and $286-$288 in the western Corn Belt.
Choice boxed beef cutout value was 87¢ lower Wednesday afternoon at $307.36/cwt. Select was $2.63 lower at $294.38.
Corn and Soybean futures edged higher in nearby contracts Wednesday, as traders prepared for Thursday’s monthly World Agricultural Supply and Demand Estimates.
Toward the close and through Jly ’25 contracts, Corn futures were fractionally higher 1¢ higher. Kansas City Wheat futures were 1¢ to 4¢ higher. Soybean futures were 2¢ to 4¢ higher.
Cattle futures hovered amid two-sided trading Tuesday.
Heading into the close, Live Cattle futures were narrowly mixed, from an average of 34¢ lower in the front four contracts to an average of 28¢ higher. Feeder Cattle futures were an average of 49¢ higher, except for 2¢ lower in Mar.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, Live FOB prices were $180-$181/cwt. in the Texas Panhandle, $181 in Kansas, $180-$181 in Nebraska and $180-$183 in the western Corn Belt
Dressed delivered prices were $288 in Nebraska and $286-$288 in the western Corn Belt.
Choice boxed beef cutout value was 29¢ lower Tuesday afternoon at $308.23/cwt. Select was $1.48 lower at $297.01.
Corn and Soybean futures were lower Tuesday, pressured by the yield outlook and weaker crude oil prices.
Toward the close and through Jly ’25 contracts.
Corn futures were 2¢ to 3¢ lower.
Toward the close and through Jly ’25 contracts, Corn futures were 2¢ to 3¢ lower. Soybean futures were 17¢ to 20¢ lower. Kansas City Wheat futures were 6¢ higher.
More bullish outside markets helped Cattle futures bounce back Monday.
Heading into the close, Live Cattle futures were an average of $1.91 higher. Feeder Cattle futures were an average of $3.87 higher.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, Live FOB prices were $2-$3 lower in the Texas Panhandle at $180-$181/cwt., $1-$2 lower in Kansas at $181, $3-$4 lower in Nebraska at $180-$181 and steady to $5 lower in the western Corn Belt at $180-$183.
Dressed delivered prices were steady to $4 lower in Nebraska at $288 and $2-$4 lower in the western Corn Belt at $286-$288.
The weighted average five-area direct FOB live steer price last week was $2.63 lower at $181.18/cwt. The weighted average dressed delivered steer price was $2.75 lower at $287.54.
Choice boxed beef cutout value was 89¢ lower Monday afternoon at $308.52/cwt. Select was $2.36 higher at $298.49.
Grain and Soybean futures were mixed Monday with apparent short covering providing support.
Toward the close and through Jly ’25 contracts, Corn futures were fractionally higher to 2¢ higher. Kansas City Wheat futures were 1¢ lower, except for 5¢ higher in spot Sep. Soybean futures were 10¢ to 14¢ higher.
Negative outside markets and softer cash fed cattle prices helped pressure Cattle futures again Friday. Live Cattle futures closed an average of $1.83 lower. Feeder Cattle futures closed an average of $3.60 lower. Week to week on Friday, Live Cattle futures were an average of $3.09 lower and Feeder Cattle futures were an average of $7.30 lower.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand in the Southern Plains to slow on light demand in the North through Friday afternoon, according to the Agricultural Marketing Service.
For the week, Live FOB prices were $2 lower in the Texas Panhandle at $181/cwt., $1-$2 lower in Kansas at $181, $4 lower in Nebraska at $180 and steady to $5 lower in the western Corn Belt at $180-$183.
Dressed delivered prices were steady to $4 lower in Nebraska at $288 and $2-$4 lower in the western Corn Belt at $286-$288.
Choice boxed beef cutout value was $2.10 lower Friday afternoon, at $309.41/cwt. Select was 66¢ lower at $296.12.
Estimated total cattle slaughter during the holiday-shortened week of 542,000 was 69,000 head fewer than the previous week and 17,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 21.4 million head was 926,000 head fewer (-4.1%) than the same period a year earlier. Total estimated year-to-date beef production of 18 billion pounds was 216.2 million pounds less (-1.2%).
Grain and Soybean futures closed lower Friday amid pressure from lower outside markets and wonderments about next week’s monthly World Agricultural Supply and Demand Estimates.
Corn futures closed 2¢ to 6¢ lower. However, Corn futures closed an average of 6’2¢ higher through the front six contracts week to week on Friday. That’s an average of about 15¢ higher in those contracts over the past two weeks.
On Friday, Kansas City Wheat futures closed 10¢ to 11¢ lower. Soybean futures closed 15¢ to 19¢ lower.
Cattle futures closed lower Thursday, pressured by lower cash fed cattle prices in the South and skittish outside markets.
Live Cattle futures closed an average of $1.64 lower. Feeder Cattle futures closed an average of $3.23 lower.
Negotiated cash fed cattle trade ranged from moderate on moderate demand in the Texas Panhandle to slow on light to moderate demand in Kansas through Thursday afternoon, according to the Agricultural Marketing Service. Live FOB prices were $181/cwt., which was $2 lower in the Texas Panhandle and $1-$2 lower in Kansas.
Elsewhere, trade was slow on light demand with too few transactions to trend.
Last week, FOB live prices were $184 in Nebraska and $183-$185 in the western Corn Belt. Dressed delivered prices were $288-$292.
Choice boxed beef cutout value was 9¢ lower Thursday afternoon, at $311.51/cwt. Select was $2.61 lower at $296.78.
Grain futures softened Thursday with likely farmer selling. Corn futures closed mostly fractionally lower to 2¢ lower. Kansas City Wheat futures closed 2¢ to 4¢ lower. Soybean futures closed mostly 1¢ to 2¢ higher.
Live Cattle futures were an average of 23¢ lower, except for an average of 24¢ higher in three contracts, with pressure from early cash weakness in the South.
Feeder Cattle futures were an average of $1.23 lower, pressured by lower Live Cattle and higher Corn.
Negotiated cash fed cattle trade ranged from slow on light demand in Kansas to a standstill elsewhere through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early live FOB trades in Kansas at $180/cwt.
Last week, FOB live prices were $183 in the Texas Panhandle, $182-$183 in Kansas, $184 in Nebraska and $183-$185 in the western Corn Belt. Dressed delivered prices were $288-$292.
Choice boxed beef cutout value was 93¢ higher Wednesday afternoon, at $311.60/cwt. Select was 72¢ lower at $299.39.
Grain and Soybean futures continued to rally Wednesday with likely short covering and thoughts forecast yield increases might be less than expected.
Toward the close and through Jly ’25 contracts, Corn futures were 3¢ to 5¢ higher. Kansas City Wheat futures were 15¢ to 16¢ higher. Soybean futures were mostly 8¢ to 9¢ higher.
Cattle futures gained Friday as traders closed their book for the week and month. Support included firmer wholesale beef values and positive outside markets.
Live Cattle futures were an average of 96¢ higher.
Feeder Cattle futures closed an average of 87¢ higher.
Cattle futures also gained week to week. Live Cattle futures closed an average of $1.96 higher (47¢ higher at the back to $3.27 higher at the front). Feeder Cattle futures closed an average of $2.64 higher.
Negotiated cash fed cattle trade ranged from limited on light demand to inactive on very light demand with too few transactions to trend through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were steady in the Texas Panhandle at $183/cwt., $1 lower in Kansas at $182-$183, steady in Nebraska at $184 and $1-$3 lower in the western Corn Belt at $183-$185.
Dressed delivered prices were $3-$5 lower in Nebraska at $288-$292. Dressed delivered prices in the western Corn Belt the previous week were $293-$295.
Estimated total cattle slaughter last week of 611,000 head was 3,000 head more than the previous week but 20,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 20.9 million head was 910,000 head fewer (-4.2%) than the same time last year. Year-to-date estimated beef production of 17.6 billion pounds was 219.4 million pounds less (-1.2%).
Choice boxed beef cutout value was 68¢ higher Friday afternoon, at $309.34/cwt. Select was 37¢ lower at $295.82.
Grain and Soybean futures continued higher Friday.
Corn futures closed mostly 3¢ to 5¢ higher. Week to week on Friday, Corn futures closed an average of 8’6¢ higher. Kansas City Wheat futures closed 4¢ to 7¢ higher through Jly ‘25 on Friday and then mostly 2¢ higher. Soybean futures closed 6¢ to 8¢ higher.
Cattle futures were lower Thursday, pressured by steady to weaker cash fed cattle prices and the recent decline in wholesale beef values.
Heading into the close, Live Cattle futures were an average of $1.45 lower, except for $1 higher in expiring spot Aug. Feeder Cattle futures were an average of $2.28 lower.
Negotiated cash fed cattle trade was slow on light demand in all regions through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, FOB live prices are $1-$2 lower in Kansas at $182/cwt. and steady at $184 in Nebraska, where dressed delivered prices are $1-$3 lower at $292.
Last week, FOB live prices were $183/cwt. in the Texas Panhandle and $184-$188 in the western Corn Belt, where dressed delivered prices were $293-$295.
Choice boxed beef cutout value was $1.37 higher Thursday afternoon, at $308.66/cwt. Select was $1.44 lower at $296.19.
Grain and Soybean futures were higher Thursday with traders apparently adding some weather premium.
Toward the close and through Jly ’25 contracts, Corn futures were 3¢ to 5¢ higher. Kansas City Wheat futures were mainly 4¢ higher. Soybean futures were 11¢ to 14¢ higher.
Cattle futures softened Wednesday with pressure including the lack of weekly cash direction and a sharp decline in wholesale beef values.
Heading into the close, Live Cattle futures were an average of 67¢ lower. Feeder Cattle futures were narrowly mixed from an average of 44¢ lower to an average of 11¢ higher.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183/cwt. in the Texas Panhandle $183-$184 in Kansas, $184 in Nebraska and $184-$188 in the western Corn Belt. Dressed delivered prices were $293-$295.
Choice boxed beef cutout value was $4.68 lower Wednesday afternoon, at $307.29/cwt. Select was $2.62 lower at $297.63.
Grain futures were mixed Wednesday.
Toward the close and through Jly ’25 contracts, Corn futures were 2¢ lower. Kansas City Wheat futures were 7¢ to 11¢ higher on apparent short covering. Soybean futures were 7¢ to 10¢ lower.
Cattle futures mainly extended gains Tuesday with hopes the near bottom has been carved, supported by ongoing relative demand strength.
Heading into the close, Live Cattle futures were an average of $1.35 higher. Feeder Cattle futures were an average of 55¢ higher, except for an average of 25¢ lower in the front two contracts.
Negotiated cash fed cattle trade was at a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183/cwt. in the Texas Panhandle, $183-$184 in Kansas, $184 in Nebraska and $184-$188 in the western Corn Belt. Dressed delivered prices were $293-$295.
Choice boxed beef cutout value was $3.93 lower Tuesday afternoon, at $311.97/cwt. Select was 6¢ higher at $300.25.
Grain futures were higher Tuesday, with apparent recent producer selling and the cheaper U.S. dollar providing support.
Toward the close and through Jly ’25 contracts, Corn futures were 4¢ to 6¢ higher. Kansas City Wheat futures were 7¢ to 12¢ higher. Soybean futures were 6¢ to 9¢ higher.
Cattle futures moved higher Monday, although many thought traders might see bearishness in more placements than expected in Friday’s Cattle on Feed report.
Heading into the close, Live Cattle futures were an average of 89¢ higher. Feeder Cattle futures were an average of $2.59 higher.
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 lower in the Texas Panhandle at $183/cwt., $1-$2 lower in Kansas at $183-$184, $6 lower in Nebraska at $184 and $3 lower in the western Corn Belt at $184-$188. Dressed delivered prices were $5-$6 lower in Nebraska at $293-$295 and $3 lower in the western Corn belt at $293-$295.
The weighted average five-area direct FOB live steer price last week was $3.60 lower at $185.54/cwt. The weighted average dressed delivered steer price was $4.11 lower at $293.93.
Choice boxed beef cutout value was $1.44 lower Monday afternoon, at $315.90/cwt. Select was 27¢ lower at $300.19.
Grain futures were mixed Monday. Toward the close and through Jly ’25 contracts, Corn futures were 4¢ to 5¢ lower. Kansas City Wheat futures were fractionally lower to 3¢ higher. Soybean futures were 4¢ to 8¢ higher.
Cattle futures were narrowly mixed Friday as traders waited the monthly Cattle on Feed report, which will likely be viewed as neutral to slightly bearish (see below).
Live Cattle futures closed an average of 29¢ lower except for 2¢ higher in spot Aug. Feeder Cattle futures closed mixed, from an average of 49¢ higher in the front three contracts to an average of 62¢ lower.
Week to week on Friday, Live Cattle futures were an average of $1.69 lower (22¢ to $2.92 lower). Feeder Cattle futures were an average of $2.17 lower week to week (20¢ to $3.37 lower).
Negotiated cash fed cattle trade was mostly inactive on light demand through Friday afternoon with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, FOB live prices were $2 lower in the Texas Panhandle at $183/cwt. and generally steady to $3 lower in the western Corn Belt at $187.50. Dressed delivered prices were $3-$6 lower in Nebraska at mostly $295 and $3 lower in the western Corn belt at $293-$295 in a light test.
The previous week, FOB live prices were $185 in Kansas and $190 in Nebraska.
Choice boxed beef cutout value was $1.35 higher Friday afternoon, at $317.34/cwt. Select was $1.57 lower at $300.46.
Estimated total cattle slaughter last week of 608,000 head was 6,000 head more than the previous week, but 18,000 head fewer than the same week last year. Estimated year-to-date total cattle slaughter of 20.3 million head was 893,000 head fewer (-4.2%) than the same time last year. Estimated year-to-date beef production of 17.1 billion pounds was 226.2 million pounds less (-1.3%).
Grain futures continued to leak lower Friday, while Soybean futures gained on increasing export demand.
Soybean futures were 8¢ to 11¢ higher. Corn futures closed fractionally lower to 3¢ lower through Sep ’25 and then unchanged to 1¢ higher. Kansas City Wheat futures closed 6¢ to 10¢ lower.
Short covering on Thursday, ahead of Friday’s monthly Cattle on Feed report appeared to be the main driver of firming Cattle Futures. Heading into the close Live Cattle futures were an average of $1.22 higher. Feeder Cattle futures were an average of $1.89 higher.
Negotiated cash fed cattle trade ranged from inactive on light demand to a standstill through Thursday afternoon with too few transactions to trend, according to the Agricultural Marketing Service.
So far this week, FOB live prices are $2 lower in the Texas Panhandle at $183/cwt. and generally steady to $3 lower in the western Corn Belt at $187.50. Dressed delivered prices are $3-$6 lower in Nebraska at mostly $295 and $3 lower in the western Corn belt at $293-$295 in a light test.
Last week, FOB live prices were $185 in Kansas and $190 in Nebraska.
Choice boxed beef cutout value was 78¢ higher Thursday afternoon, at $315.99/cwt. Select was 95¢ higher at $302.03.
Grain and soybean futures were lower Thursday pressured by positive weather and yield estimates.
Heading into the close, through Jly ’25 contracts, Corn futures were 4¢ to 6¢ lower. Kansas City Wheat futures were mostly were 8¢ lower. Soybean futures were 18¢ to 22¢ lower.
Cattle futures closed lower Friday, pressured by technicals and the week’s lower cash fed cattle prices.
Live Cattle futures were an average of $1.91 lower ($1.22 to $2.62 lower). Week to week, they were an average of $1.21 lower (35¢ to $2.85 lower).
Feeder Cattle futures were an average of $4.62 lower on Friday. Week to week, they were an average of $3.53 lower.
Negotiated cash fed cattle trade was moderate on moderate demand in all major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices are $1 lower in the Texas Panhandle at $185/cwt. in the Texas Panhandle and steady to $2 lower in Kansas at $185, $3 lower in Nebraska at $190 and $2-$6 lower in the western Corn Belt at $187-$191. Dressed delivered prices were $4-$7 lower in Nebraska at $298-$301 and $7-$9 lower in the western Corn Belt at $296-$298.
Choice boxed beef cutout value was 51¢ lower Friday afternoon, but $4.74 higher week to week. Select was 56¢ higher Friday and $4 higher week to week.
Grain and soybean futures were mostly lower Friday amid the familiar pressure of the optimistic yield projections and ongoing sluggish export demand.
Corn futures closed mostly 3¢ to 4¢ lower. Kansas City Wheat futures mostly 2¢ to 4¢ higher. Soybean futures closed 10¢ to 12¢ lower through Aug ’25 and then 7¢ to 8¢ higher.
Cattle futures gained Wednesday, supported by positive outside markets.
Before settlement, Live Cattle futures were an average of 87¢ higher. Feeder Cattle futures were an average of $1.67 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, FOB live prices were $186/cwt. in the Texas Panhandle, $185-$187 in Kansas, mostly $193 in Nebraska and $190-$193 in the western Corn Belt. Dressed delivered prices were $305.
Choice boxed beef cutout value was $2.05 lower Wednesday afternoon at $314.88/cwt. Select was 11¢ lower at $300.50/cwt.
Toward the close on Wednesday, through Jly ’25 contracts, Corn futures were 2¢ to 3¢ higher. Kansas City Wheat futures were 1¢ lower. Soybean futures were mostly 5¢ to 6¢ higher.
Cattle futures gained Tuesday, supported by positive outside markets and firmer wholesale beef values.
Before settlement, Live Cattle futures were an average of $1.43 higher. Feeder Cattle futures were an average of $2.59 higher.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $186/cwt. in the Texas Panhandle, $185-$187 in Kansas, mostly $193 in Nebraska and $190-$193 in the western Corn Belt. Dressed delivered prices were $305.
Choice boxed beef cutout value was $1.10 higher Tuesday afternoon at $316.93/cwt. Select was 44¢ higher at $300.61/cwt.
Turning to the grain complex, Corn and Soybean futures were lower Tuesday, pressured by favorable weather and the outlook for high yields, in tandem with anemic export demand.
Toward the close on Tuesday, through Jly ’25 contracts, Corn futures were 4¢ to 5¢ lower. Soybean futures were 20¢ to 23¢ lower. Kansas City Wheat futures were mostly 1¢ lower.
Cattle futures were unable to extend gains from the previous session, apparently pressured once again, in part by demand concerns.
Before settlement, Live Cattle futures closed an average of 80¢ lower.
Feeder Cattle futures were an average of $1.79 lower.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 lower in the Texas Panhandle at $186/cwt. and mostly $2-$3 lower in Kansas at $185-$187, where live delivered prices were $190-$190.50. FOB live prices are $3 lower in Nebraska at $193 and mainly $2-$3 lower in the western Corn Belt at mostly $193. Dressed delivered prices were $5 lower at $305.
The weighted average five-area direct FOB live steer price last week was $3.11 lower at $191.34. The weighted average dressed delivered steer price was $5.59 lower at $304.01.
Choice boxed beef cutout value was $3.12 higher Monday afternoon at $315.83/cwt. Select was $1.58 higher at $300.17/cwt.
Turning toward the close on Monday, Corn futures were 4¢ to 6¢ higher with support from lower than expected carryover in the monthly World Agricultural Supply and Demand Estimates (see below).
Through Jly ’25 contracts, Kansas City Wheat futures were were 5¢ to 6¢ lower. Soybean futures were mostly 12¢ to 16¢ lower.
Cattle futures closed higher with week-end positioning and positive outside markets but were lower week to week, unable to recover from the early-week meltdown.
Live Cattle futures closed an average of $1.92 higher (77¢ to $3.12 higher). However, they were an average of about $2.44 lower week to week.
Feeder Cattle futures closed an average of $3.77 higher Friday but were an average of $6.22 lower week to week.
Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $2 lower in the Southern Plains at $186/cwt. in the Texas Panhandle and mostly $186-$193 in Kansas, where live delivered prices were $190-$190.50. FOB live prices were $3 lower in Nebraska at $193 and $3-$4 lower in the western Corn Belt at $190-$193. Dressed delivered prices were $5 lower at $305.
Choice boxed beef cutout value was 59¢ higher Friday afternoon at $312.71/cwt. Select was 56¢ higher at $298.59/cwt.
Grain and soybean futures continued lower Friday ahead of Monday’s monthly World Agricultural Supply and Demand Estimates with many expecting increased yields.
Corn futures closed mostly 2¢ to 4¢ lower. Kansas City Wheat futures closed fractionally higher to 2¢ higher through May ’25 and then mostly fractionally lower. Soybean futures closed mostly 4¢ to 6¢ lower.
Cattle futures lost ground Thursday with pressure from lower cash fed cattle prices and softening wholesale beef values.
Before settlement, Live Cattle futures were an average of $1.13 lower. Feeder Cattle futures were an average of $1.89 lower.
Negotiated cash fed cattle trade ranged from moderate on moderate demand in the Texas Panhandle to limited or light on moderate demand elsewhere through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, FOB live prices are $2 lower in the Southern Plains at $186/cwt. in the Texas Panhandle and mostly $186-$193 in Kansas. FOB live prices are $3 lower in Nebraska at $193 and $1-$3 lower in the western Corn Belt at $193. Dressed delivered prices are $5 lower at $305.
Choice boxed beef cutout value was $1.73 lower Thursday afternoon at $312.12/cwt. Select was 80¢ lower at $298.03/cwt.
Grain and soybean futures were lower again Thursday with pressure from bullish production weather.
Heading into the close, through Jly ’25 contracts, Corn futures were 2¢ to 4¢ lower through Jly ’25. Kansas City Wheat futures were 3¢ to 5¢ lower. Soybean futures were 5¢ to 11¢ lower.
Negotiated cash fed cattle trade ranged from a standstill in the Texas Panhandle to slow on light demand elsewhere through Wednesday afternoon, according to the Agricultural Marketing Service.
So far this week, FOB live prices are $3 lower in Nebraska at $193/cwt. and $1-$3 lower in the western Corn Belt at $193. There were a few trades in Kansas at $190.50 but too few to trend.
Last week, FOB live prices were $188 in the Texas Panhandle and $188-$195 in Kansas. Dressed delivered prices were $310.
Choice boxed beef cutout value was $1.96 lower Wednesday afternoon at $313.85/cwt. Select was 79¢ lower at $298.83/cwt.
Cattle futures continued to grind for support from the recent selloff Wednesday as early cash fed cattle prices eroded.
Before settlement, Live Cattle futures were an average of 30¢ higher, except for an average of 4¢ lower in three contracts. Feeder Cattle futures closed were average of 88¢ lower.
Grain and soybean futures closed lower Wednesday with pressure from promising yields. The monthly World Agricultural Supply and Demand Estimates are due out Monday.
Heading into the close, through Jly ’25 contracts, Corn futures were 3¢ to 4¢ lower. Kansas City Wheat futures were 3¢ to 5¢ lower. Soybean futures were mostly 7¢ lower.
Cattle futures tried for gains early in Tuesday’s session, in the wake of the recent selloff but ended mainly slightly lower.
Before settlement, Live Cattle futures were an average of 32¢ lower except for an average of 33¢ higher in three contracts. Feeder Cattle futures closed were average of 36¢ lower, except for 5¢ higher at the back.
Negotiated cash fed cattle trade ranged from slow on light demand to a standstill elsewhere through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $188/cwt. in the Texas Panhandle, $187-$195 in Kansas, $196 in Nebraska and $194-$196 in the western Corn Belt. Dressed delivered prices were $310/cwt.
Choice boxed beef cutout value $2.13 lower Tuesday afternoon at $315.81/cwt. Select was 44¢ lower at $299.62.
Heading into the close, through Jly ’25 contracts, Corn futures were 3¢ lower. Kansas City Wheat futures were 2¢ to 4¢ higher. Soybean futures were 10¢ to 17¢ lower.
Cattle futures sank lower again Monday, tracing the selloff in outside markets.
Before settlement, Live Cattle futures were an average of $3.58 lower. Feeder Cattle futures closed were average of $6.57 lower.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 lower in the Texas Panhandle at $188/cwt., $2 lower to $7 higher in Kansas at $188-$195, $2 lower in Nebraska at $196 and $2 lower in the western Corn Belt at $194-$196. Dressed delivered prices were $2 lower at $310/cwt.
The weighted average five-area direct FOB live steer price was 76¢ lower last week at $194.45/cwt. The weighted average dressed delivered steer price was $1.74 lower at $309.60.
Wholesale beef prices did rebound Monday, with Choice boxed beef cutout value $4.17 higher in the afternoon at $317.94/cwt. Select was 85¢ higher at $282.34.
Grain and soybean futures extended gains Monday. Heading into the close, through Jly ’25 contracts, Corn futures were 3¢ to 4¢ higher. Kansas City Wheat futures were 2¢ to 3¢ higher. Soybean futures were mostly 11¢ to 15¢ higher.
Cattle futures continued to carve a sharp path lower Friday, as equity markets unwound with growing concerns of recession.
Live Cattle futures closed an average of $2.02 lower. Feeder Cattle futures closed average of $4.15 lower.
Negotiated cash fed cattle trade ranged from moderate on moderate demand to inactive on light demand through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $2 lower in the Texas Panhandle at $188/cwt., $2 lower to $7 higher in Kansas at $188-$195, $2 lower in Nebraska at $196 and $2 lower in the western Corn Belt at $194-$196. Dressed delivered prices were $2 lower at $310/cwt.
Choice boxed beef cutout value was 98¢ higher Friday afternoon at $313.77/cwt. Select was 29¢ lower at $297.17/cwt.
Short covering on profit taking earlier in the week helped Grain and Soybean futures close higher Friday. Corn futures closed 4¢ to 5¢ higher. Soybean futures closed mostly 10¢ to 12¢ higher. KC HRW Wheat futures closed 5¢ to 7¢ higher.
Cattle futures were sharply lower Thursday, weighed down by wobbly cash trade, technical selling, bearish outside markets and lower wholesale beef values.
Before settlement, Live Cattle futures closed an average of $1.84 lower. Feeder Cattle futures were an average of $4.97 lower.
Negotiated cash fed cattle trade ranged from slow on light to moderate demand in the Southern Plains to slow on light demand in the North through Thursday afternoon, according to the Agricultural Marketing Service.
Although too few to trend, there were some early FOB live trades in the Southern Plains at $188/cwt.
Last week, FOB live prices were $190 in the Southern Plains, $198 in Nebraska and $196-$198 in the western Corn Belt. Dressed delivered prices were $312/cwt.
Choice boxed beef cutout value was $1.98 lower Thursday afternoon at $312.79/cwt. Select was $2.70 lower at $297.46/cwt.
Net U.S. beef export sales of 17,700 metric tons (2024) the week ending July 25 were 32% more than the previous week and 35% more than the prior four-week average, according to USDA’s weekly report. Increases were primarily for South Korea, Japan, Mexico and China.
Grain and Soybean futures were mixed Thursday.
Heading into the close, through Jly ’25 contracts, Corn futures were fractionally mixed. Kansas City Wheat futures were 5¢ to 7¢ higher on likely short covering. Soybean futures were 6¢ to 10¢ lower.
Cattle futures were narrowly mixed Wednesday, awaiting the week’s cash direction.
Before settlement, Live Cattle futures were an average of 34¢ lower. Feeder Cattle futures were narrowly mixed, from an average of 55¢ lower to an average of 29¢ higher with the most support in nearby months.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $190/cwt. in the Southern Plains, $198 in Nebraska and $196-$198 in the western Corn Belt. Dressed delivered prices were $312/cwt.
Choice boxed beef cutout value was 29¢ higher Wednesday afternoon at $314.77/cwt. Select was $1.22 lower at $300.16/cwt.
Grain and Soybean futures were narrowly mixed Wednesday.
Heading into the close, through Jly ’25 contracts, Corn futures were 3¢ to 6¢ lower. Kansas City Wheat futures were fractionally lower to 2¢ lower. Soybean futures were 1¢ to 4¢ higher.
Cattle futures were narrowly mixed but mainly higher Tuesday.
Before settlement, Live Cattle futures were an average of 41¢ higher, except for 12¢ lower in three contracts.
Feeder Cattle futures were an average of 39¢ higher, except for 31¢ lower in three contracts.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $190/cwt. in the Southern Plains, $198 in Nebraska and $196-$198 in the western Corn Belt. Dressed delivered prices were $2 higher at $312/cwt.
Choice boxed beef cutout value was 33¢ lower Tuesday afternoon at $314.48/cwt. Select was 14¢ lower at $301.38/cwt.
Grain and Soybean futures were lower Tuesday with continued pressure from the favorable weather outlook.
Heading into the close, through Jly ’25 contracts, Corn futures were 6¢ to 7¢ lower. Kansas City Wheat futures were 3¢ to 5¢ lower. Soybean futures were mostly 16¢ to 30¢ lower.
Cattle futures stepped lower Monday with apparent technical selling.
Before settlement, Live Cattle futures were an average of $1.20 lower. Feeder Cattle futures were an average of $2.75 lower.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $1.50-$2 higher in the Texas Panhandle at $190/cwt., $2-$3 higher in Kansas at $190, $2 higher in Nebraska at $198 and steady to $2 higher in the western Corn Belt at $196-$198. Dressed delivered prices were $2 higher at $312/cwt.
Last week’s weighted average five area direct FOB live steer price was $1.54 higher at $195.21/cwt. The weighted average dressed delivered steer price was $1.30 higher at $311.34.
Choice boxed beef cutout value was $1.04 higher Monday afternoon at $314.81/cwt. Select was $4.06 higher at $301.52/cwt.
Grain and Soybean futures closed mixed Monday.
Heading into the close, through Jly ’25 contracts, Corn futures were 2¢ to 3¢ higher. Kansas City Wheat futures were 5¢ to 7¢ higher. Soybean futures were mostly 5¢ to 10¢ lower.
Cattle futures closed mixed to higher Friday, buoyed by higher cash fed cattle prices and firmer wholesale beef values.
Live Cattle futures closed narrowly mixed from 13¢ lower to 28¢ higher.
Feeder Cattle futures closed an average of $1.13 higher with added support from lower Corn futures.
Negotiated cash fed cattle trade ranged from limited on light demand to moderate on moderate demand through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $1.50-$2 higher in the Texas Panhandle at $190/cwt., $2-$3 higher in Kansas at $190 and $2 higher in the North at $198. Dressed delivered prices were $2 higher at $312/cwt.
Choice boxed beef cutout value was $1.31 higher Friday afternoon at $313.77/cwt. Select was $2.35 higher at $297.46/cwt.
Estimated total cattle slaughter last week of 600,000 head was 16,000 head more than the previous week but 16,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 17.9 million head was 833,000 head fewer (-4.5%) than the same period last year. Estimated year-to-date beef production of 15.1 billion pounds was 236.9 million pounds less (-1.5%).
Grain futures closed lower Friday with likely profit taking, producer selling and a more favorable weather outlook.
Soybean futures closed 22¢ to 38¢ lower. Corn futures closed 9¢ to 11¢ lower through Jly ’25 and then mostly 6¢ to 8¢ lower. KC HRW Wheat futures closed 10¢ to 16¢ lower.
Cattle futures closed higher Thursday, supported by the prospects of steady to higher cash trade, as well as more favorable domestic economic growth than expected.
Before settlement, Live Cattle futures were an average of $1.01 higher across a wide range. Feeder Cattle futures were an average of 52¢ higher.
Negotiated cash fed cattle trade ranged from slow on light demand to inactive on very light demand through Thursday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were som early live FOB sales in Kansas at $190/cwt.
Last week, live FOB prices were $188-$188.50 in the Texas Panhandle, 187-188 in Kansas and $196 in the North. Dressed delivered prices were $310/cwt.
Choice boxed beef cutout value was 22¢ lower Thursday afternoon at $312.46/cwt. Select was $1.15 higher at $295.11/cwt.
Grain and Soybean futures were mixed Thursday.
Heading into the close, through Jly ’25 contracts Corn futures were mostly 3¢ higher. Soybean futures were mostly 13¢ to 15¢ higher as traders applied more weather premium. However, Kansas City Wheat futures were 6¢ to 7¢ lower on bullish harvest reports and anemic export sales.
Cattle futures were mostly lower Wednesday, pressured by bearish outside markets and the lack of weekly cash direction.
Before settlement, Live Cattle futures were an average of 71¢ lower, except for unchanged to an average of 45¢ higher in the front three contracts. Feeder Cattle futures were an average of $1.79 lower.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live FOB prices were $188-$188.50/cwt. in the Texas Panhandle, 187-188 in Kansas and $196 in the North. Dressed delivered prices were $310/cwt.
Choice boxed beef cutout value was 53¢ lower Wednesday afternoon at $312.68/cwt. Select was $2.70 lower at $293.96/cwt.
Grain futures firmed Wednesday, while Soybean futures declined after recent gains.
Heading into the close, through Jly ’25 contracts, Corn futures were fractionally high to 1¢ higher. Kansas City Wheat futures were fractionally higher to 2¢ higher. Soybean futures were mostly 9¢ to 11¢ lower.
Cattle futures extended gains Tuesday. Before settlement, Live Cattle futures were an average of $1.21 higher. Feeder Cattle futures were an average of $1.72 higher.
Negotiated cash fed cattle trade ranged from slow on light demand to a standstill in all major cattle feeding regions through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live FOB prices were steady to 50¢ higher in the Texas Panhandle at $188-$188.50/cwt. steady to $1 lower in Kansas at $187-$188 and $2 lower in the North at $196. Dressed delivered trades were $2 lower at $310/cwt.
Choice boxed beef cutout value was 23¢ lower Wednesday afternoon at $313.21/cwt. Select was $1.67 lower at $296.66/cwt.
Traders continued adding weather premium to Soybean futures Tuesday. Heading into the close, through Jly ’25 contracts, Soybean futures were mostly 4¢ to 7¢ higher. Corn futures were fractionally higher to 1¢ higher. Kansas City Wheat futures were 4¢ lower.
Cattle futures strengthened Monday, helped along by positive outside markets and the monthly Cattle on Feed report (see below), which indicated fewer placements than expected last month.
Before settlement, Live Cattle futures were an average of $1.05 higher. Feeder Cattle futures were an average of 54¢ higher, well off session highs, capped by advancing Corn futures.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live FOB prices were steady to 50¢ higher in the Texas Panhandle at $188-$188.50/cwt. steady to $1 lower in Kansas at $187-$188 and $2 lower in the North at $196. Dressed delivered trades were $2 lower at $310/cwt.
The weighted average five-area direct FOB live steer price last week was 57¢ lower at $193.67. The weighted average dressed delivered steer price was $2.56 lower at $310.04.
Choice boxed beef cutout value (p.m.): 39¢ lower at $313.44/cwt. Select was 47¢ lower at $298.33/cwt.
Soybeans led the grain complex higher Monday with short covering and apparent weather premium based on the global outlook.
Heading into the close, through Jly ’25 contracts, Soybean futures were 21¢ to 33¢ higher. Corn futures were 10¢ to 11¢ higher. Kansas City Wheat futures were 1¢ to 2¢ higher.
Cattle futures continued mostly lower Friday ahead of the monthly Cattle on Feed report (see below), which could provide some support Monday.
Live Cattle futures were an average of 47¢ lower, except for an average of 65¢ higher in the front two contracts. Week to week on Friday, Live Cattle futures were an average of 85¢ lower (40¢ to $1.30 lower), except for 72¢ higher in spot Aug.
Feeder Cattle futures were an average of 94¢ lower on Friday. They were an average of $1.73 lower week to week (92¢ lower at the back to $3.05 lower at the front).
Negotiated cash fed cattle trade ranged from mostly inactive on light demand in the Southern Plains to slow on light demand in the North through Friday afternoon, according to the Agricultural Marketing Service.
For the week, live FOB prices were unevenly steady in the Southern Plains at $188/cwt. and $2 lower in the North at $196. Dressed delivered trades were $2 lower at $310/cwt.
Choice boxed beef cutout value was $2.32 lower Friday at $313.83/cwt. Select was 66¢ lower at $298.80.
Choice boxed beef cutout value was $8.23 lower week to week on Friday at $313.83/cwt. Select was $3.51 lower at $298.80. Over the last two weeks, Choice is down $16.60 and Select is down $6.26.
Estimated total cattle slaughter last week of 584,000 was 17,000 fewer than the previous week and 42,000 head fewer (-6.7%) than the same week last year. Year-to-date estimated total cattle slaughter of 17.3 million head was 821,000 head fewer (-4.5%) than the same period last year. Year-to-date estimated beef production of 14.6 billion pounds was 242.5 million pounds less (-1.6%).
Turning to the grain complex, Grain and Soybean futures were mixed Friday in search of a bottom and also likely impacted by the widespread internet outage.
Corn futures closed fractionally mixed to unchanged. Kansas City Wheat futures 7¢ higher through May ’25 and then mostly 3¢ higher. Soybean futures were mostly 7¢ to 10¢ lower.
Cattle futures sagged lower Thursday with the week’s wobbly cash fed cattle trade, sharply lower outside markets and likely positioning ahead of Friday’s monthly Cattle on Feed report.
Before settlement, Live Cattle futures were an average of $2.06 lower. Feeder Cattle futures were an average of $2.47 lower.
Negotiated cash fed cattle trade ranged from slow on light to moderate demand in the North to mostly inactive on light demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, live FOB prices are unevenly steady in the Southern Plains at $188/cwt. and dressed delivered trades are $2 lower in Nebraska at $310/cwt.
Last week, live FOB prices were mostly $198 in the North with dressed delivered prices at $312 in the western Corn Belt.
Choice boxed beef cutout value was $2.01 lower Thursday afternoon at $316.15/cwt. Select was $1.22 higher at $299.46/cwt.
Negotiated cash fed cattle trade was slow on light to moderate demand in the Southern Plains through Wednesday afternoon with early FOB live trades at $188/cwt.
Elsewhere, trade ranged from mostly inactive on light demand to a standstill, according to the Agricultural Marketing Service.
Last week, FOB live prices were mostly $198 in Nebraska and the western Corn Belt. Dressed delivered prices were mostly $312.
Live Cattle futures strengthened Wednesday as cash fed cattle traded steady in the South. Feeder Cattle futures were narrowly mixed, perhaps with some positioning and wariness ahead of Friday’s monthly Cattle on Feed report. Estimates ahead of the report peg June placements at 3% less year over year, June marketings about 8% less and the July 1 on-feed inventory about 1% more.
Choice boxed beef cutout value was $1.10 lower Wednesday afternoon at $318.16/cwt. Select was $3.15 lower at $298.44/cwt.
Before settlement, Live Cattle futures were an average of 78¢ higher. Feeder Cattle futures were mixed, from an average of 24¢ lower in the front three contracts to an average of 39¢ higher.
Grain and Soybean futures continued to firm Wednesday with more short covering and some support from the lower U.S. dollar.
Toward the close and through Jly ’25 contracts, Corn futures were 3¢ higher. Kansas City Wheat futures were 8¢ to 12¢ higher. Soybean futures were 4¢ lower to 8¢ higher.
Cattle futures mostly strengthened Tuesday, supported by bullish outside markets.
Before settlement, Live Cattle futures were an average of 57¢ higher. Feeder Cattle futures were an average of 72¢ higher, except for unchanged in spot Aug and an average of 9¢ lower in the back two contracts.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $188/cwt. in the Southern Plains $198 in Nebraska and mostly $198 in the western Corn Belt. Dressed delivered prices were $312 in Nebraska and mostly $312 in the western Corn Belt.
Choice boxed beef cutout value was $2.23 lower Tuesday afternoon at $319.26/cwt. Select was $3.23 lower at $301.59/cwt.
Grain and Soybean futures firmed Tuesday with likely short covering. Toward the close and through Jly ’25 contracts, Corn futures were 3¢ to 5¢ higher. Kansas City Wheat futures were 6¢ to 7¢ lower. Soybean futures mostly 3¢ to 5¢ higher.
Feeder Cattle futures moved higher Monday, helped along by wilting Corn futures, while Live Cattle futures sought near-term direction. Feeder Cattle futures were an average of 62¢ higher.
Before settlement, Live Cattle futures were narrowly mixed, from 25¢ lower to 37¢ higher.
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $188/cwt. in the Southern Plains $198 in Nebraska and mostly $198 in the western Corn Belt. Dressed delivered prices were $312 in Nebraska and mostly $312 in the western Corn Belt.
Choice boxed beef cutout value was 57¢ lower Monday afternoon at $321.49/cwt. Select was $2.51 higher at $304.82/cwt.
Grain and Soybean futures took a step lower Monday, pressured by the continued positive weather outlook. Toward the close and through Jly ’25 contracts, Corn futures were 11¢ to 12¢ lower. Kansas City Wheat futures were 12¢ to 16¢ lower. Soybean futures were 26¢ to 29¢ lower.
Negotiated cash fed cattle trade ranged from inactive on very light demand to limited with very light demand through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $2 lower in the Southern Plains at $188/cwt., steady in Nebraska at $198 and steady to $3 lower in the western Corn Belt at mostly $197-$198.50. Dressed delivered prices were $2 lower in Nebraska at $312. Dressed delivered prices in the western Corn Belt the previous week were $312-$315.
Live Cattle futures closed an average of 75¢ higher (12¢ to $1.15 higher). However, they were an average of $2.63 lower week to week on Friday. Feeder Cattle futures closed an average of $1.37 higher on Friday but were an average of $4.66 lower week to week.
Choice boxed beef cutout value was 41¢ higher Friday afternoon at $322.06/cwt. Select was $1.07 lower at $302.31/cwt. Week to week on Friday, Choice was down $8.37 and Select was $2.75 lower.
Total estimated cattle slaughter last week of 601,000 head was 79,000 head more than the previous holiday-shortened week, but 32,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 16.7 million head was 778,000 head fewer (-4.5%) than the same period last year. Year-to-date estimated beef production of 14.1 billion pounds was 226.2 million pounds less (1.6%).
Corn futures firmed Friday, buoyed by a bullish WASDE (see below). They closed mostly 1¢ to 4¢ higher, but they were an average of 9’7¢ lower through the front six contracts week to week on Friday.
KC HRW Wheat futures closed mostly 10¢ to 16¢ lower through Dec ’25 and then unchanged to 8¢ lower.
Soybean futures closed fractionally lower to 12¢ lower through May ’25 and then mostly 4¢ to 6¢ higher.
Cattle futures firmed Thursday.
Before settlement, Live Cattle futures were an average of 28¢ higher, except for 5¢ lower in the back contract. Feeder Cattle futures were an average of $1.04 higher.
Negotiated cash fed cattle trade ranged from slow with light to moderate demand in the North to inactive with very light demand in the South through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, FOB live prices are $2 lower in the Southern Plains at $188/cwt., steady in Nebraska at $198 and steady to $2 lower in the western Corn Belt at mostly $198. Dressed delivered prices are $2 lower in Nebraska at $312. Dressed delivered prices in the western Corn belt the previous week were $312-$315.
Choice boxed beef cutout value was $2.40 lower Thursday afternoon at $321.65/cwt. Select was 56¢ lower at $303.38/cwt.
Grain and Soybean futures gained Thursday on oversold conditions. Toward the close and through Jly ’25 contracts, Corn futures were 3¢ to 5¢ higher. Kansas City Wheat futures were 15¢ to 22¢ higher. Soybean futures were mostly 1¢ to 2¢ higher.
Cattle futures continued to unwind Thursday, pressured by declining wholesale beef value and lower cash trade in the South.
Before settlement, Live Cattle futures were an average of 61¢ lower. Feeder Cattle futures were an average of $1.94 lower.
Negotiated cash fed cattle trade was slow on light demand in the Southern Plains through Wednesday afternoon, according to the Agricultural Marketing Service. FOB live prices were $2 lower at$188/cwt.
Elsewhere, trade ranged from limited on light demand to inactive on light demand with too few transactions to trend.
The previous week, FOB live prices were $198 in Nebraska and $198-$200 in the western Corn Belt. Dressed delivered prices were $314 in Nebraska and $312-$315 in the western Corn Belt.
Choice boxed beef cutout value was $1.61 lower Wednesday afternoon at $324.05/cwt. Select was 37¢ lower at $303.94/cwt.
Grain and Soybean futures continued lower Wednesday ahead of Friday’s monthly World Agricultural Supply and Demand Estimates.
Toward the close and through Jly ’25 contracts, Corn futures were 3¢ lower to 5¢ higher. Kansas City Wheat futures were mostly 12¢ to 13¢ lower. Soybean futures were 13¢ to 25¢ lower.
Cattle futures tried to gain early again in Tuesday’s session but broke back, apparently spurred in part by a knee-jerk reaction to mid-day Choice boxed beef prices which were $4.87/lower; Select was $1.69 lower.
Before settlement, Live Cattle futures were an average of $1.52 lower. Feeder Cattle futures were an average of $2.92 lower.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $190/cwt. in the Texas Panhandle and $190-$193 in Kansas.
The previous week, FOB live prices were $198 in Nebraska and $198-$200 in the western Corn Belt. Dressed delivered prices were $314 in Nebraska and $312-$315 in the western Corn Belt.
Choice boxed beef cutout value was $4.81 lower Tuesday afternoon at $325.66/cwt. Select was 41¢ lower at $304.31
Front-month grain futures firmed Tuesday while Soybean futures continued to erode. Positive weather continues to apply pressure. As the week continues, traders will also be positioning ahead of Friday’s monthly World Agricultural Supply and Demand Estimates.
Toward the close and through Jly ’25 contracts, Corn futures were mostly fractionally higher. Kansas City Wheat futures were mostly fractionally higher to 8¢ higher in spot Jly. Soybean futures were 14¢ to 21¢ lower.
Cattle futures tried to gain early in Monday’s session but ran out of steam to close lower in what turned out to be a risk-off day in ag commodities, perhaps with some positioning at the beginning of the Goldman Roll.
Before settlement, Live Cattle futures were an average of $1.34 lower. Feeder Cattle futures were an average of $2.01 lower.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were steady in the Texas Panhandle at $190/cwt. and steady to $3 higher in Kansas at $190-$193.
The previous week, FOB live prices were $198 in Nebraska and $198-$200 in the western Corn Belt. Dressed delivered prices were $314 in Nebraska and $312-$315 in the western Corn Belt.
Choice boxed beef cutout value was 4¢ higher Monday afternoon at $330.47/cwt. Select was 34¢ lower at $304.72/cwt.
Grain and Soybean futures lost ground Monday, with added pressure from more moisture in the forecast. Toward the close and through Jly ’25 contracts, Corn futures were 12¢ to 17¢ lower. Kansas City Wheat futures were 14¢ to 21¢ lower. Soybean futures were 15¢ to 30¢ lower.
Negotiated cash fed cattle trade was slow on light demand in the Southern Plains through Friday afternoon, according to the Agricultural Marketing Service. FOB live prices were steady at $190/cwt. in a light test.
Elsewhere, trade ranged from limited on light demand to inactive on very light demand with too few transactions to trend.
The previous week, FOB live prices were mostly $198 in Nebraska and the western Corn Belt. Dressed delivered prices were mostly $312 but stretched as high as $317.
Choice boxed beef cutout value was 59¢ higher Friday afternoon at $330.43/cwt. Select was 68¢ higher at $305.06/cwt.
Cattle futures mainly drifted lower in light post-holiday trade on Friday.
Live Cattle futures closed an average of 20¢ lower, except for an average of 41¢ higher in the front two contracts.
Feeder Cattle futures closed an average of $1.49 lower.
Grain and Soybean futures rallied on Friday, with Wheat receiving support from export sales and Corn buoyed by a spottier rain forecast.
Corn futures closed mostly 3¢ to 4¢ higher. KC HRW Wheat closed 11¢ to 15¢ higher. Soybean futures closed mostly 6¢ to 8¢ higher.
Cattle futures extended gains Wednesday, supported by strong wholesale beef values and prospects of steady to higher cash fed cattle prices for the holiday-shortened week. Before settlement, Live Cattle futures were an average of 71¢ higher. Feeder Cattle futures were an average of $1.88 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, FOB live prices were $190/cwt. in the Southern Plains at mostly $198 in Nebraska and the western Corn Belt. Dressed delivered prices were mostly $312 but stretched as high as $317.
For added perspective, last month’s weighted average five-area direct FOB live steer price was $8.82 higher year over year at $193.33/cwt. The weighted average dressed delivered steer price was $13.04 higher at $307.26.
Choice boxed beef cutout value was 55¢ lower Wednesday afternoon at $329.84/cwt. Select was $2.10 lower at $304.38/cwt.
Corn and Kansas City Wheat futures softened Wednesday with pressure from favorable weather. Heading into the close and through Jly ’25 contracts, Corn futures were mostly 2¢ lower. Kansas City Wheat futures were 6¢ to 10¢ lower. Soybean futures were 7¢ to 11¢ higher.
Futures and equity markets will be closed Thursday in observance of Independence Day.
Cattle futures rallied Tuesday, supported by strong wholesale beef values, which were propped up further by lost production at Cargill’s plant in Dodge City for a few days this week, due to a partial roof collapse, owing to heavy rain last weekend. Before settlement, Live Cattle futures were an average of $1.54 higher. Feeder Cattle futures were an average of $3.06 higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $190/cwt. in the Southern Plains and mostly $198 in Nebraska and the western Corn Belt. Dressed delivered prices were mostly $312, but stretched as high as $317.
Choice boxed beef cutout value was $1.21 higher Tuesday afternoon at $330.39/cwt. Select was 7¢ higher at $306.48/cwt.
Front-month Corn and Soybean futures gained Tuesday, likely with additional short covering. Toward the close and through Jly ’25 contracts, Corn futures were mostly fractionally higher. Soybean futures were mostly fractionally higher to 5¢ higher. Kansas City Wheat futures were 3¢ to 10¢ lower with likely harvest pressure.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were steady to $1 higher in the Texas Panhandle at $190/cwt., unevenly steady in Kansas at $190, steady to $1 higher in Nebraska at $198 (some up to $200) and mainly steady to $1 higher in the western Corn Belt at mostly $198.
Dressed delivered prices were steady to $2 higher in Nebraska at $312 and $2 higher in the western Corn Belt at $312. Prices ran as high as $317 in both regions.
Last week’s five-area direct weighted average FOB live steer price was 97¢ higher at $195.81. The weighted average dressed delivered steer price was $2.92 higher at $313.47.
Choice boxed beef cutout value was $2.86 higher Monday afternoon at $329.18/cwt. Select was $1.91 higher at $306.41.
Cattle futures softened again Monday with sluggish interest. Before settlement, Live Cattle futures were an average of 87¢ lower. Feeder Cattle futures were an average of $2.05 lower.
As for the grain complex, short covering seemed to be the order of the day. Toward the close and through Jly ’25 contracts, Corn futures were mainly fractionally higher to 1¢ higher. Kansas City Wheat futures were 10¢ to 13¢ higher. Soybean futures were 7¢ to 12¢ higher.
Negotiated cash fed cattle trade was moderate on moderate demand in Kansas through Friday afternoon, according to the Agricultural Marketing Service. FOB live prices were unevenly steady at $190/cwt.
Elsewhere, trade was slow on light to moderate demand with some early FOB live trades in Nebraska and the western Corn Belt at $198, but too few to trend.
The previous week, FOB live prices were $189-$190/cwt. in the Texas Panhandle and mainly $197-$198 in Nebraska and the western Corn Belt. Dressed delivered prices the previous week were $310-$312 in Nebraska and $310 in the western Corn Belt with prices stretching as high as $314.
Estimated total cattle slaughter last week of 609,000 head was 11,000 head fewer than the previous week and 42,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 15.6 million head was 729,000 head fewer (-4.5%) than the same time last year. Estimated year-to-date beef production of 13.1 billion pounds was 209.7 million pounds less (-1.6%) year over year.
Cattle futures softened Friday with likely profit taking, month-end positioning and traders apparently leery to step out ahead of the week’s cash fed cattle trade.
Live Cattle futures closed an average of 88¢ lower. Week to week on Friday, Live Cattle futures closed an average of $3.14 higher in the front three contracts ($1.25 to $5.90 higher) as the expiring spot Jun closed some of the broad gap with cash. From there Live Cattle were an average of 75¢ lower.
Feeder Cattle futures closed an average of $1.72 lower on Fiday. Week to week they were an average of 60¢ lower, except for 92¢ higher in spot Aug.
Corn futures dove lower Friday with the bearish Acreage report (see below), applying pressure to Wheat and Soybeans, along with likely month-end position squaring.
Corn futures closed 10¢ to 16¢ lower through Jly ’25 and then mostly 1¢ to 4¢ lower. Week to week they were an average of 31’0¢ lower through the front six contracts, an average of 47’3¢ lower over the past two weeks.
KC HRW Wheat closed mostly 5¢ to 10¢ lower through May ’25 and then fractionally lower to 3¢ lower.
Soybean futures closed fractionally lower to 3¢ lower through near Nov and then mostly 1¢ to 4¢ higher.
Cattle futures softened Thursday, with likely profit taking and no cash direction.
Before settlement, Live Cattle futures were an average of 55¢ lower, except for $1.47 higher and unchanged in the front two contracts. Feeder Cattle futures were an average of $1.01 lower, except for 15¢ higher in the back contract.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $189-$190/cwt. in the Texas Panhandle, $188-$191 in Kansas, and mainly $197-$198 in Nebraska and the western Corn Belt.
Dressed delivered prices were $310-$312 in Nebraska and $310 in the western Corn Belt with prices stretching as high as $314.
Choice boxed beef cutout value was 48¢ higher Thursday afternoon at $323.33/cwt. Select was 16¢ lower at $302.70/cwt.
Corn and Soybean futures were lower again Thursday with likely positioning ahead of Friday’s Acreage and Grain Stocks reports. Heading into the close, through Jly ’25 contracts, Corn futures were 1¢ to 10¢ lower. Kansas City Wheat futures were 11¢ to 13¢ higher. Soybean futures were mostly 2¢ to 10¢ lower.
Cattle futures powered ahead Wednesday, helped along by record and near-record high cash fed cattle prices at a strong premium to the Board. Floundering Corn futures added support.
Before settlement, Live Cattle futures were an average of $1.60 higher. Feeder Cattle futures were an average of $2.24 higher.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $189-$190/cwt. in the Texas Panhandle $188-$191 in Kansas, and mainly $197-$198 in Nebraska and the western Corn Belt.
Dressed delivered prices were $310-$312 in Nebraska and $310 in the western Corn Belt with prices stretching as high as $314.
Choice boxed beef cutout value was 54¢ lower Wednesday afternoon at $322.85/cwt. Select was $2.40 lower at $302.86/cwt.
Corn and Soybean futures were lower Wednesday with likely positioning ahead of Friday’s Acreage and Grain Stocks reports.
Heading into the close, through Jly ’25 contracts, Corn futures were 5¢ to 7¢ lower. Kansas City Wheat futures were fractionally higher to 2¢ higher. Soybean futures were 3¢ to 5¢ lower.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $189-$190/cwt. in the Texas Panhandle $188-$191 in Kansas, and mainly $197-$198 in Nebraska and the western Corn Belt.
Dressed delivered prices were $310-$312 in Nebraska and $310 in the western Corn Belt with prices stretching as high as $314.
Choice boxed beef cutout value was 75¢ higher Tuesday afternoon at $323.39/cwt. Select was 19¢ higher at $305.26/cwt.
Cattle futures closed narrowly mixed to lower on Tuesday, as traders bided their time for further cash direction. Before settlement, Feeder Cattle futures were an average of 40¢ lower except for 2¢ higher in spot Aug. Live Cattle futures were narrowly mixed, from an average of 28¢ lower to an average of 32¢ higher.
Grain and Soybean futures were lower Tuesday with apparent fund selling and potential positioning ahead of Friday’s Acreage and Grain Stocks reports. Heading into the close, Corn futures were 9¢ to 10¢ lower. Kansas City Wheat futures were 5¢ to 10¢ lower. Soybean futures were 13¢ to 19¢ lower.
Cattle futures closed mixed on Monday, as traders sorted through Friday’s bearish Cattle on Feed report, in tandem with the surge in negotiated cash fed cattle prices.
Before settlement, Live Cattle futures were an average of $1.48 higher in the front two contracts and then narrowly mixed, from an average of 19¢ lower to an average of 13¢ higher. Feeder Cattle futures were an average of 22¢ higher, except for unchanged to an average of 15¢ lower in three contracts.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $3-$4 higher in the Texas Panhandle at $189-$190/cwt. and $2-$5 higher in Kansas at $188-$191 with some as high as $198. FOB live prices were steady to $2 higher in Nebraska at $197-$198 and $3-$4 higher in the western Corn Belt at $197-$198.
Dressed delivered prices were $5-$6 higher in Nebraska at $310-$312 and $4-$5 higher in the western Corn Belt at $310, but with prices stretching as high as $314.
The weighted average five-area direct FOB live steer price last week was $2.29 higher at $194.84/cwt., which was $12.27 higher year over year. The weighted average dressed delivered steer price was $5.08 higher week to week at $310.55; it was $20.74 higher year over year.
Choice boxed beef cutout value was 25¢ higher Monday afternoon at $322.64/cwt. Select was $1.96 higher at $305.07/cwt.
Turning to row crops, grain futures edged lower Monday, while Soybean futures gained.
Heading into the close, through Jly contracts, Corn futures were mostly 1¢ lower. Kansas City Wheat futures were mostly 2¢ lower to fractionally higher. Soybean futures closed were 8¢ to 13¢ higher.
Cattle futures closed lower Friday ahead of the monthly Cattle on Feed report, which proved to be bearish (see below).
Live Cattle futures closed an average of 64¢ lower, except for an average of 56¢ higher in the front two contracts. They were an average of $1.27 lower week to week on Friday, except for $1.47 higher in spot Jun.
Feeder Cattle futures an average of $1.21 lower. They were an average of $2.81 lower week to week.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand in the Southern Plains to slow on moderate demand in the north through Friday afternoon, according to the Agricultural Marketing Service.
Although too few transactions to establish a trend, there were some dressed delivered trades in Nebraska at $310-$312/cwt. and some FOB live trades in the western Corn Belt at $197.
Based on final established trade the previous week, FOB live prices were $186/cwt. in the Southern Plains $195-$198 in Nebraska and $193-$195 in the western Corn Belt. Dressed delivered prices were $305-$306; prices as high as $310.
Choice boxed beef cutout value was 48¢ lower Friday afternoon at $322.39/cwt. Select was $1.29 lower at $303.11/cwt.
Estimated total cattle slaughter last week of 620,000 head was 5,000 head more than the previous week but 29,000 head fewer than the same week last year. Estimated year-to-date total cattle slaughter of 15 million head was 687,000 head fewer (-4.4%). Estimated year-to-date beef production of 12.6 billion pounds was 197.3 million pounds less (-1.5%).
Turning to row crops, Corn futures closed 3¢ to 4¢ lower. Week to week on Friday, there were an average of 16’3¢ lower through the front six contracts. KC HRW Wheat futures closed mostly 11¢ to 12¢ lower. Soybean futures closed 1¢ to 7¢ higher through May ’25 and then mostly 2¢ to 3¢ lower.
Cattle futures drifted lower Thursday, lacking the week’s cash fed cattle direction and perhaps with some wariness about Friday’s monthly Cattle on Feed report. Depending on the estimates you consider, analysts peg May placements about 2% less year over year, May marketings about even and the June 1 cattle on feed inventory about 1% less.
Before settlement, Live Cattle futures were an average of 38¢ lower, except for an average of 49¢ higher in the front two contracts. Feeder Cattle futures were an average of 37¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Thursday afternoon, according to the Agricultural Marketing Service.
Based on final established trade last week, FOB live prices were $186/cwt. in the Southern Plains $195-$198 in Nebraska and $193-$195 in the western Corn Belt. Dressed delivered prices were $305-$306; prices as high as $310.
Choice boxed beef cutout value was $2.17 higher Thursday afternoon at $322.87/cwt. Select was $1.14 higher at $304.40/cwt.
Turning to grain and Soybean futures, heading into the close, through Jly ’25 contracts, Corn futures were 8¢ to 10¢ lower. Kansas City Wheat futures were 7¢ to 10¢ lower. Soybean futures closed were 10¢ to 18¢ lower.
Cattle futures softened Tuesday, awaiting the week’s cash direction and perhaps with some profit taking. Before settlement, Live Cattle futures were an average of 49¢ lower. Feeder Cattle were an average of $1.52 lower.
Negotiated cash fed cattle trade was at a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Based on final established trade last week, FOB live prices were $186/cwt. in the Southern Plains $195-$198 in Nebraska and $193-$195 in the western Corn Belt. Dressed delivered prices were $305-$306; prices as high as $310.
Choice boxed beef cutout value was 5¢ higher Tuesday afternoon at $320.52/cwt. Select was 61¢ lower at $304.21/cwt.
Grain and soybean futures were mixed Tuesday. Heading into the close, through Jly ’25 contracts, Corn futures were 2¢ to 4¢ higher with likely technical correction. Kansas City Wheat futures were mostly 5¢ to 6¢ lower. Soybean futures closed were 10¢ to 16¢ higher in the front two contracts and then marginally higher through new-crop.
Negotiated cash fed cattle trade ranged from slow on light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Based on final established trade last week, FOB live prices were $1 higher in the Southern Plains at $186/cwt., $5-$8 higher in Nebraska at $195-$198 and mainly $2-$3 higher in the western Corn Belt at mostly $193-$195. Dressed delivered prices were $4-$5 higher in Nebraska and the western Corn Belt at $305-$306; prices as high as $310.
The weighted average five-area direct FOB live steer price last week was $3.63 higher at $192.55. The weighted average dressed delivered steer price was $4.76 higher at $305.47.
Choice boxed beef cutout value was 58¢ higher Monday afternoon at $320.47/cwt. Select was $1.01 higher at $304.82/cwt.
Cattle futures closed narrowly mixed Monday with likely profit taking following the previous session’s surge.
Turning to row crops, Grain and soybean futures dropped Monday with an improved weather outlook. Heading into the close and through Jly ’25 contracts, Corn futures were mostly 6¢ to 7¢ lower, while Kansas City Wheat futures and Soybean futures were mostly 15¢ to 21¢ lower.
Cattle futures charged higher Friday, supported by the hefty rise in cash fed cattle prices. Live Cattle futures closed an average of $2.41 higher ($1.92 to $3.67 higher). Feeder Cattle futures closed an average of $4.13 higher.
Negotiated cash fed cattle trade ranged from slow on moderate demand to a standstill through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $1 higher in the Southern Plains at $186/cwt., $5-$6 higher in Nebraska at $195-$196 and $2-$3 higher in the western Corn Belt at $193-$195. Some trades were as high at $197 in the latter two regions. Dressed delivered prices were $4-$5 higher in Nebraska and the western Corn Belt at $305-$306. Dressed delivered prices were as high as $308 in Nebraska and $309 in the western Corn Belt.
Choice boxed beef cutout value was $1.58 higher Friday afternoon at $319.89/cwt. Select was $4.56 higher at $303.81/cwt.
Estimated total cattle slaughter last week of 615,000 head was 1,000 head more than the previous week but 21,000 head fewer than the same week last year. Year-to-date total estimated cattle slaughter of 14.4 million head was 654,000 head fewer (-4.4%). Estimated year-to-date beef production of 12.1 billion pounds was 191 million pounds less (-1.6%).
Turning to row crops, Grain and Soybean future softened Friday on likely profit taking. Corn futures closed mostly 3¢ to 5¢ lower. KC HRW Wheat futures closed mostly 12¢ lower. Soybean futures closed mostly 5¢ to 11¢ lower.
Negotiated cash fed cattle trade and demand were moderate in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. Prices were $1 higher at $186/cwt.
Elsewhere, trade was limited on good demand. Although too few transactions to trend, there were some early live FOB trades in Nebraska and the western Corn Belt at $192-$195. Last week, prices were $190 in Nebraska and $190-$193 in the western Corn Belt. Dressed prices were $301 last week.
Choice boxed beef cutout value was 71¢ higher Thursday afternoon at $318.31/cwt. Select was 32¢ higher at $299.25/cwt.
Cattle futures mostly edged higher with firmer wholesale beef prices and the outlook for higher cash prices this week. Before settlement, Live Cattle futures were an average of 44¢ higher. Feeder Cattle were an average of 22¢ lower, except for an average of 30¢ higher in the back two contracts.
Grain and soybean futures firmed Thursday.
Heading toward the close, and through Jly ’25 contracts, Corn futures were 4¢ to 7¢ higher, supported by a hot forecast and stronger weekly export sales. Kansas City Wheat futures were 1¢ to 6¢ lower. Soybean futures were 5¢ to 13¢ higher.
Cattle futures drifted lower, pressured in part by the lack of firm cash direction for the week.
Before settlement, Live Cattle futures were an average of 52¢ lower. Feeder Cattle were an average of 42¢ lower.
Negotiated cash fed cattle trade ranged from slow on light demand to a standstill through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $185/cwt. in the Southern Plains, $190 in Nebraska and $190-$193 in the western Corn Belt. Dressed delivered prices were $301 in Nebraska and $300-$301 in the western Corn Belt.
Choice boxed beef cutout value was 61¢ lower Wednesday afternoon at $317.60/cwt. Select was $1.69 lower at $298.93/cwt.
Grain and soybean futures were mixed again Wednesday, with little apparent direction taken from the monthly World Agricultural Supply and Demand Estimates.
Heading into the close, and through Jly ’25 contracts, Corn futures were 1¢ to 3¢ higher. Kansas City Wheat futures were 12¢ to 21¢ lower with likely harvest pressure. Soybean futures mostly 4¢ to 5¢ lower.
Cattle futures softened Tuesday as traders awaited weekly cash direction.
Before settlement, Live Cattle futures closed an average of 46¢ lower. Feeder Cattle were an average of 99¢ lower.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $185/cwt. in the Southern Plains, $190 in Nebraska and $190-$193 in the western Corn Belt. Dressed delivered prices were $301 in Nebraska and $300-$301 in the western Corn Belt.
Choice boxed beef cutout value was 79¢ higher Tuesday afternoon at $318.21/cwt. Select was 42¢ lower at $300.62/cwt.
Grain and soybean futures were mixed Tuesday, with likely positioning ahead of Wednesday’s World Agricultural Supply and Demand Estimates. Heading toward the close, through away Jly contracts, Corn futures were mostly 3¢ lower. Kansas City Wheat futures were 4¢ to 9¢ higher. Soybean futures were 5¢ to 11¢ lower.
Cattle futures extended support from the previous session, buoyed by recently stronger wholesale beef prices and prospects of higher cash prices this week. Before settlement, Live Cattle futures were an average of $2.06 higher. Feeder Cattle were an average of $3.16 higher.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $1 lower in the Southern Plains at $185/cwt., steady in Nebraska at $190 and $1-$2 higher in the western Corn Belt at $190-$193. Dressed delivered prices were steady in Nebraska at $301 and steady to $1 higher in the western Corn Belt at $300-$301.
Choice boxed beef cutout value was 67¢ higher Monday afternoon at $317.42/cwt. Select was 10¢ lower at $301.04/cwt.
Grain and soybean futures were mixed Monday, perhaps with some positioning ahead of this week’s World Agricultural Supply and Demand Estimates.
Heading into the close, Corn futures were fractionally higher to 2¢ higher through Jly ’25 and Soybean futures fractionally higher to 8¢ higher through near Nov. However, nearby Kansas City Wheat futures were 19¢ to 24¢ lower with likely harvest pressure.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to slow on light demand in the Southern Plains through Friday afternoon, according to the Agricultural Marketing Service. Trade was slow on light to moderate demand in the North.
For the week, FOB live prices were $1 lower in the Southern Plains at $185/cwt. and unevenly steady in the western Corn Belt at $190. Prices in Nebraska the previous week were $190.
Dressed delivered prices the previous week were $301 in Nebraska and $300-$301 in the western Corn Belt.
Choice boxed beef cutout value was 54¢ higher Friday afternoon at $316.75/cwt. Select was 31¢ higher at $301.14/cwt. Week to week on Friday, Choice was up $3.55 but Select was 57¢ lower.
Total cattle slaughter last week of 614,000 head was 74,000 head more than the previous holiday-shortened week. Estimated year-to-date total cattle slaughter of 13.7 million head was 631,000 head fewer (-4.4%) than the same time last year. Estimated year-to-date beef production of 11.6 billion pounds was 198.4 million pounds less (-1.7%).
Cattle futures found some footing Friday, helped along by firm wholesale beef prices.
Live Cattle futures closed an average of 20¢ higher, except for an average of 20¢ lower in two contracts. They were an average of $1.33 lower week to week on Friday, except for 62¢ higher in spot June.
Feeder Cattle futures closed an average of $1.37 higher. However, they were an average of $1.75 lower week to week on Friday.
Grain and Soybean futures weakened Friday on likely fund selling.
Corn futures closed mostly 1¢ to 3¢ lower. KC HRW Wheat futures closed 12¢ to 14¢ lower. Soybean futures 12¢ to 20¢ lower through near Sep and then 2¢ to 9¢ lower.
Negotiated cash fed cattle trade was moderate on moderate demand in Kansas through Thursday afternoon, according to the Agricultural Marketing Service. FOB live prices were $1 lower at $185/cwt.
Elsewhere, trade ranged from slow on light demand to a standstill.
Last week, FOB live prices were $186 in the Texas Panhandle, $190 in Nebraska and $188-$192 in the western Corn Belt. Dressed delivered prices were $301 in Nebraska and $300-$301 in the western Corn Belt.
Choice boxed beef cutout value was $1.42 higher Thursday afternoon at $316.21/cwt. Select was 7¢ lower at $300.83/cwt.
Cattle futures were lower again Thursday heading into the close, pressured by the weaker outlook for cash prices this week and surge in Corn futures. Live Cattle futures were 90¢ lower. Feeder Cattle were an average of $2.00 lower, except for 17¢ higher in spot Jun.
Corn and Soybean futures bounced higher Thursday on likely short covering.
Heading into the close, through Jly ‘25, Corn futures were 9¢ to 14¢ higher. Soybean futures were mostly 13¢ to 22¢ higher. Kansas City Wheat futures were mostly fractionally higher.
Cattle futures were lower heading into the close Wednesday with pressure including lower wholesale beef values and a lack of cash direction for the week. Live Cattle futures were an average of 43¢ lower. Feeder Cattle were an average of $1.04 lower.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $186/cwt. in the Southern Plains, $190 in Nebraska and $188-$192 in the western Corn Belt. Dressed delivered prices were $301 in Nebraska and $300-$301 in the western Corn Belt.
Choice boxed beef cutout value was $2.09 lower Wednesday afternoon at $314.79/cwt. Select was $3.57 lower at $300.90/cwt.
Grain futures continued to unwind Wednesday. Heading into the close, through Jly ’25 contracts, Corn futures were 2¢ to 3¢ lower. Kansas City Wheat futures were 8¢ to 12¢ lower. Soybean futures were 3¢ to 6¢ lower.
Cattle futures tried for gains early in Tuesday’s trading session but were mainly marginally lower toward the close.
Live Cattle futures were narrowly mixed, from an average of 15¢ lower in three contracts to an average of 16¢ higher. Feeder Cattle were an average of 28¢ lower, except for 12¢ higher in the back contract.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $186/cwt. in the Southern Plains, $190 in Nebraska and $188-$192 in the western Corn Belt. Dressed delivered prices were $301 in Nebraska and $300-$301 in the western Corn Belt.
Choice boxed beef cutout value was $1.28 higher Tuesday afternoon at $316.88/cwt. Select was 77¢ higher at $304.47/cwt.
Grain futures continued lower again Tuesday on crop progress. Toward the close, Corn futures were 1¢ lower. Kansas City Wheat futures 11¢ to 12¢ lower. Soybean futures 5¢ to 7¢ lower.
Cattle futures firmed Monday with stronger wholesale beef prices after early pressure from last week’s wobbly cash fed cattle prices.
Heading into the close, Live Cattle futures were an average of 19¢ higher, except for 62¢ lower in away Aug. Feeder Cattle futures were narrowly mixed from an average of 13¢ lower in the front four contracts to an average of 39¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $1 lower in the Southern Plains at $186/cwt., $2 lower in Nebraska at $190 and steady to $2 lower in the western Corn Belt at $188-$192. Dressed delivered prices in Nebraska were $3 lower at $301 and $2-$3 lower in the western Corn Belt at $300-$301.
The five-area weighted average direct FOB live steer price last week was $1.18 lower at $188.91. The weighted average dressed delivered steer price was $2.68 lower at $300.81.
Choice boxed beef cutout value was $2.40 higher Monday afternoon at $315.60/cwt. Select was $1.99 higher at $303.70/cwt.
Grain futures continued lower Monday as crop progress brightens.
Heading into the close, through Jly ‘25, Corn futures were mostly 3¢ to 4¢ lower. Kansas City Wheat futures 6¢ to 9¢ lower. Soybean futures were 15¢ to 20¢ lower.
Negotiated cash fed cattle trade ranged from moderate on moderate demand up north to a standstill through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $1 lower in the Southern Plains at $186/cwt., $2 lower in Nebraska at $190 and steady in the western Corn Belt at $190-$192. Dressed delivered prices in Nebraska were $3 lower at $301. Prices in the western Corn Belt the previous week were $302-$304.
Choice boxed beef cutout value was 84¢ lower Friday afternoon at $313.20/cwt. Select was 81¢ lower at $301.71/cwt. Choice was $2.75 higher week to week on Friday. Select was 1¢ lower.
Estimated total cattle slaughter for the holiday-shortened week of 540,000 head was 67,000 head fewer than the previous week and 28,000 head fewer than the same week a year earlier. Year-to-date estimated total cattle slaughter of 13.1 million head was 624,000 fewer (-4.5%) than the same time last year. Estimated year-to-date beef production of 11.1 billion pounds was 218.4 million pounds less (-1.9%).
Cattle futures continued lower Friday with pressure including steady to lower cash fed cattle prices.
Live Cattle futures closed an average of $1.16 lower. They were an average of $2.70 lower week to week on Friday.
Feeder Cattle futures closed an average of $2.04 lower, from 87¢ lower at the back to $2.67 lower at the front. Week to week, they were an average of $2.57 lower, from $1.15 lower toward the back to $3.82 lower at the front.
Grain futures continued to erode on Friday.
Corn futures closed 3¢ to 4¢ lower. Through the front six contracts, they were an average of 20¢ lower week to week.
KC HRW Wheat futures closed mostly fractionally mixed.
Soybean futures closed 3¢ to 5¢ lower.
Cattle futures continued lower Thursday with follow-through pressure including negative outside markets, oversold conditions and perhaps some month-end profit taking.
Heading into the close and before settlement, Live Cattle futures were an average of 75¢ lower. Feeder Cattle were an average of 78¢ lower.
Negotiated cash fed cattle trade ranged from light on light demand to mostly inactive on light demand through Thursday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there some early FOB live trades in the Southern Plains at $186/cwt.
Last week, FOB live prices were $187 in the Southern Plains, $192 in Nebraska and $190-$192 in the western Corn Belt.
Dressed delivered prices were $304 in Nebraska and $302-$304 in the western Corn Belt.
Choice boxed beef cutout value was 42¢ higher Thursday afternoon at $314.04/cwt. Select was 4¢ lower at $302.52/cwt.
Grain futures closed lower again Thursday as traders pondered the improved planting and weather outlook.
Heading into the close Tuesday, through Jly ‘25, Kansas City Wheat futures were 6¢ to 10¢ lower. Corn futures were 6¢ to 8¢ lower. Soybean futures mostly 5¢ to 7¢ lower.
Cattle futures closed lower Wednesday with pressure including negative outside markets, oversold conditions and perhaps some month-end profit taking.
Heading into the close and before settlement, Live Cattle futures were an average of $1.65 lower. Feeder Cattle were an average of $3.15 lower.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there some early FOB live trades in Nebraska at $190/cwt.
Last week, FOB live prices were $187 in the Southern Plains, $192 in Nebraska and $190-$192 in the western Corn Belt.
Dressed delivered prices were $304 in Nebraska and $302-$304 in the western Corn Belt.
Choice boxed beef cutout value was $1.50 higher Wednesday afternoon at $313.62/cwt. Select was 95¢ lower at $302.48/cwt.
Grain futures closed lower Wednesday as it appeared traders took back some weather premium.
Heading into the close Tuesday, through Jly ‘25, Kansas City Wheat futures were 6¢ to 10¢ lower. Corn futures were 5¢ to 7¢ lower. Soybean futures were 5¢ to 18¢ lower.
Cattle futures started and ended the session higher Tuesday, supported by last week’s stronger cash prices and the neutral monthly Cattle on Feed report, Live Cattle futures were an average of 83¢ higher. Feeder Cattle futures were an average of $3.52 higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $1 higher in the Southern Plains at $187/cwt., $2 higher in Nebraska at $192 and steady to $2 higher in the western Corn Belt at $190-$192.
Dressed delivered prices in Nebraska were $4-$6 higher at $304 and $2-$4 higher in the western Corn Belt at $302-$304 in a light test.
The weighted average five-area direct FOB live steer price last week was $1.55 higher at $190.09. The average dressed delivered steer price was $4.10 higher at $303.49.
Choice boxed beef cutout value was $1.67 higher Tuesday afternoon at $312.12/cwt. Select was $1.71 higher at $303.43/cwt.
Heading into the close Tuesday, through Jly ‘25, Kansas City Wheat futures were 5¢ to 12¢ higher. Corn futures were mostly 2¢ lower and Soybean futures were 2¢ to 8¢ higher.
Negotiated cash fed cattle trade ranged from slow on light demand to mostly inactive on light demand through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, FOB live prices were $1 higher in the Southern Plains at $187/cwt., mainly $2 higher in Nebraska at $192 (some up to $193.50) and mostly $2 higher in the western Corn Belt at $192 (some up to $193).
Dressed delivered prices in Nebraska were $4-$6 higher at mostly $304 (some up to $305). Dressed delivered prices in the western Corn Belt the previous week were mainly $300 (some up to $306).
Choice boxed beef cutout value was 61¢ higher Friday afternoon at $310.45/cwt. Select was $1.64 higher at $301.72/cwt.
Estimated cattle slaughter last week of 607,000 head was 9,000 more than the previous week but 18,000 head fewer than the same week last year. Year-to-date estimate total cattle slaughter of 12.6 million head was 594,00 head fewer than (-4.5%) than the same period a year earlier. Estimated year-to-date beef production of 10.6 billion pounds was 213.9 million pounds less (-2.0%).
Cattle futures edged mostly lower Friday ahead of the long holiday weekend and the monthly Cattle on Feed report (see below).
Live Cattle futures closed an average of 13¢ lower, except for an average of 11¢ higher in the front two contracts. Week to week on Friday, they were an average of $1.76 higher.
Feeder Cattle futures closed an average of 72¢ lower, except for 40¢ higher in newly minted away-May. They were an average of $1.46 higher week to week on Friday.
Turning to row crops, Grain futures closed higher Friday with traders maintaining a weather premium.
KC HRW Wheat futures closed 8¢ to 10¢ higher through May ’25 and then mostly 4¢ to 6¢ higher. Corn futures closed 1¢ to 2¢ higher. Soybean futures closed 2¢ to 8¢ higher through Jly ’25 and then mostly 1¢ lower to 1¢ higher.
Cattle futures started stronger Thursday, buoyed by higher cash fed cattle prices in the South, but faded to a lower close on likely positioning ahead of Friday’s Cattle on Feed report and the holiday weekend.
Heading into the close and before settlement, Live Cattle futures were an average of 56¢ lower. Feeder Cattle were an average of $1.07 lower.
Negotiated cash fed cattle trade was active on good demand in Kansas through Thursday afternoon, according to the Agricultural Marketing Service. FOB live prices were $1 higher at $187/cwt.
Elsewhere, trade was slow on light to moderate demand. Although too few to trend so far this week, there are some early FOB live sales in Nebraska and the western Corn Belt at $192.
Last week, FOB live prices were $186/cwt. in the Texas Panhandle, $190 in Nebraska and $190 in the western Corn Belt with a few up to $191. Dressed delivered prices were $298 in Nebraska and mostly $300 in the western Corn Belt with a few up to $306.
Choice boxed beef cutout value was $2.33 lower Thursday afternoon at $309.84/cwt. Select was 47¢ higher at $300.08/cwt.
U.S. beef export sales continue to show promise. The week ending May 16, net U.S. beef export sales for 2024 of 21,500 metric tons were 42% more than the previous week and 32% more than the prior four-week average, according to USDA’s Export Sales report. Increases were primarily for China, South Korea, Mexico, Japan and Taiwan.
As for row crops, grain futures added back some weather premium. Heading into the close, Kansas City Wheat futures were 10¢ to 15¢ higher through May ’25 and Corn futures were 1¢ to 3¢ higher through Jly ‘25. However, Soybean futures were 3¢ to 7¢ lower through Jly ’25.
Cattle futures continued higher Wednesday, supported by recently stronger cash fed cattle and wholesale beef prices. The next two trading sessions appear to be wild cards as traders position ahead of Friday’s monthly Cattle on Feed report and the three-day weekend.
Heading into the close and before settlement, Live Cattle futures were an average of $1.07 higher. Feeder Cattle were an average of $2.29 higher.
Negotiated cash fed cattle trade ranged from a standstill in Nebraska to slow on light demand in Kansas through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early FOB live trades in the Kansas at $187/cwt.
Last week, FOB live prices were $186/cwt. in the Southern Plains, $190 in Nebraska and $190 in the western Corn Belt with a few up to $191. Dressed delivered prices were $298 in Nebraska and mostly $300 in the western Corn Belt with a few up to $306.
Choice boxed beef cutout value was 85¢ lower Wednesday after noon at $312.17/cwt. Select was $1.26 lower at $299.61/cwt.
Turning to row crops, Corn futures were 1¢ to 3¢ higher through May ‘25. Kansas City Wheat futures 1¢ to 5¢ lower through May ’25. Soybean futures were 4¢ to 11¢ higher through May ’25.
Cattle futures closed higher Tuesday, supported by steady to stronger wholesale beef values.
Heading into the close and before settlement, Live Cattle futures were an average of $1.01 higher. Feeder Cattle were an average of $1.62 higher.
Negotiated cash fed cattle trade ranged from a standstill in the Southern Plains to slow on light demand in the western Corn Belt through Tuesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early FOB live trades in the western Corn Belt at $192/cwt.
Last week, FOB live prices were $186/cwt. in the Southern Plains, $190 in Nebraska and $190 in the western Corn Belt with a few up to $191. Dressed delivered prices were $298 in Nebraska and mostly $300 in the western Corn Belt with a few up to $306.
Choice boxed beef cutout value was 32¢ higher Tuesday afternoon at $313.02/cwt. Select was $1.52 higher at $300.87/cwt.
Heading into the close, Corn futures were 1¢ to 2¢ lower through Jly ’25 on planting pressure. Soybean futures were 10¢ to 12¢ lower through Jly ’25.
Cattle futures were narrowly mixed Monday, as traders appeared to take stock after last week’s strong gains.
Heading into the close and before settlement, Live Cattle futures were an average of 17¢ higher, except for 30¢ lower in near Aug.
Feeder Cattle were an average of 57¢ lower, except for 10¢ higher in the back contract. Pressure included stronger Corn futures prices.
Negotiated cash fed trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2-$3 higher in the Southern Plains at $186/cwt., $3-$4 higher in Nebraska at $190 and $3-$5 higher in the western Corn Belt at $190 with a few up to $191. Dressed delivered prices were $2-$3 higher in Nebraska at $298-$300 and mostly $5 higher in the western Corn Belt at $300 with some up to $306.
The weighted weekly average five-area direct FOB live steer price was $2.60 higher at $188.54. The weighted average dressed delivered steer price was $4.11 higher at $299.39.
Choice boxed beef cutout value was 75¢ lower Monday afternoon at $312.70/cwt. Select was $1.95 higher at $299.35/cwt.
Kansas City Wheat futures rallied Monday, up 24¢ to 34¢ through Dec ’25 heading into the close on concerns about crop damage in the Ukraine and Russia, and leading Corn. Corn futures were 6¢ to 8¢ higher through Jly ‘25. Soybean futures were 9¢ to 18¢ higher through Aug ’25.
Negotiated cash fed cattle trade ranged from inactive on very light demand in the Texas Panhandle to active on good demand elsewhere, through Friday afternoon according to the Agricultural Marketing Service.
FOB live prices were $2-$3 higher in Kansas at $186/cwt., $3-$4 higher in Nebraska at $190 and $3-$5 higher in the western Corn Belt $190 with a few up to $191. Dressed delivered prices were $2-$3 higher in Nebraska at $298-$300. Last week, dressed delivered prices in the western Corn Belt were mostly $295.
Although too few to trend, there were some FOB live sales in the Texas Panhandle at $186, where prices the previous week were $184.
Fed cattle prices were supported by slower packer production helping to boost wholesale beef prices. Choice boxed beef cutout value was $3.30 higher Friday afternoon at $313.45/cwt., the highest level since March. Select was 89¢ higher at $297.40/cwt. Week to week on Friday, Choice was $18.88 higher and Select was $13.23 higher.
Estimated total cattle slaughter last week of 598,000 head was 24,000 head fewer than the previous week and 42,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 11.9 million head was 570,000 head fewer than the (-4.5%) than the same week last year. Estimated year-to-date beef production of 10.1 billion pounds was 220.6 million pounds less (-2.1%).
Cattle futures continued higher Friday, amid stronger boxed beef values and higher cash fed cattle prices.
Live Cattle futures closed an average of $1.21 higher, from 67¢ higher at the back to $2.02 higher at the front. Week to week on Friday, they were an average of $3.92 higher.
Feeder Cattle futures closed an average of $2.03 higher. They were an average of $7.87 higher week to week on Friday.
Cattle futures extended further Thursday, buoyed by another day of higher wholesale beef prices, bullish outside markets and a positive reading of export demand.
Net U.S. beef export sales for 2024 the week ending May 9 of 15,100 metric tons were 23% more than the previous week, but 11% less than the prior four-week average. Increases were primarily for Japan, China, Taiwan, Mexico and South Korea.
Choice boxed beef cutout value was $3.38 higher Thursday afternoon at $310.15/cwt. Select was $2.20 higher at $296.51/cwt.
Heading into the close and before settlement, Live Cattle futures were an average of 64¢ higher. Feeder Cattle were an average of $1.40 higher, receiving added support from softer Corn futures.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Thursday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early FOB live trades in the western Corn Belt at $186-$190/cwt. and a few dressed delivered sales at $298-$300.
Last week, FOB live prices were $184/cwt. in the Texas Panhandle, $183-$185 in Kansas, $186-$187 in Nebraska and mostly $187 in the western Corn Belt. Dressed delivered prices were $295-$296 in Nebraska and mostly $295 in the western Corn Belt.
Grain futures softened again Thursday.
Heading into the close, Corn futures were 4¢ to 5¢ lower through Sep ’25. Kansas City Wheat futures mostly 1¢ lower through Sep ’25. Soybean were mostly 1¢ to 5¢ lower through Sep ‘25.
Cattle futures extended gains, supported by recently resurgent wholesale beef prices.
Heading into the close and before settlement, Live Cattle futures were an average of 26¢ higher. Feeder Cattle were an average of 47¢ higher.
Choice boxed beef cutout value was $2.38 higher Wednesday afternoon at $306.77/cwt. Select was 49¢ higher at $294.31/cwt.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $184/cwt. in the Texas Panhandle, $183-$185 in Kansas, $186-$187 in Nebraska and mostly $187 in the western Corn Belt. Dressed delivered prices were $295-$296 in Nebraska and mostly $295 in the western Corn Belt.
Turning to row crops, Grain futures were lower again on likely profit taking and producer selling.
Corn futures were 3¢ to 4¢ lower through Sep ’25. Kansas City Wheat futures mostly 7¢ lower through May ‘25. Soybean were mostly 1¢ to 4¢ lower through May ‘25.
Cattle futures rallied Tuesday, supported by slower packer production which is helping lift wholesale beef prices.
Heading into the close and before settlement, Live Cattle futures were an average of $2.29 higher and Feeder Cattle futures were an average of $4.20 higher.
Choice boxed beef cutout value was $5.44 higher Tuesday afternoon at $304.39/cwt. Select was $6.64 higher at $293.82/cwt.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $184/cwt. in the Texas Panhandle, $183-$185 in Kansas, $186-$187 in Nebraska at $186-187 and mostly $187 in the western Corn Belt. Dressed delivered prices were $295-$296 in Nebraska and mostly $295 in the western Corn Belt.
Choice boxed beef cutout value was $5.44 higher Tuesday afternoon at $304.39/cwt. Select was $6.64 higher at $293.82/cwt.
Turning to row crops, heading into the close, front-month Grain futures were softer on likely profit taking and producer selling.
Cattle futures were narrowly mixed Monday as traders appeared to wait for further cash direction.
Heading into the close and before settlement, Live Cattle futures were narrowly mixed, from an average of 46¢ lower to an average of 22¢ higher.
Feeder Cattle closed were an average of 37¢ higher, except for 67¢ lower in the back contract.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were steady in the Texas Panhandle at $184/cwt., unevenly steady to $1 higher in Kansas at $183-$185, steady in Nebraska at $186-187 and steady to $2 higher in the western Corn Belt at mostly $187. Dressed delivered prices were $1 higher in Nebraska at $295-$296 and mainly steady in the western Corn Belt at mostly $295.
The five-area weighted average direct FOB live steer price last week was 20¢ higher at$185.94. The weighted average dressed delivered steer prices was 63¢ higher at $295.28.
Choice boxed beef cutout value was $4.38 higher Monday afternoon at $298.95/cwt. Select was $3.01 higher at $287.18/cwt.
Grain and Soybean futures closed higher Monday, with follow-through support from Friday’s World Agricultural Supply and Demand Estimates and planting delays.
Corn futures were mostly fractionally higher to 5¢ higher through Jly ’25.
Kansas City Wheat futures 16¢ to 25¢ higher through Jly ‘25.
Soybean were mostly 4¢ to 8¢ higher through 2025.
Negotiated cash fed cattle trade ranged from inactive on very light demand in the Texas Panhandle to moderate on moderate demand elsewhere through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were steady in the Texas Panhandle at $184/cwt., unevenly steady to $1 higher in Kansas at $183-$185, steady in Nebraska at $186-187 and steady to $2 higher in the western Corn Belt at $187. Dressed delivered prices were $1 higher in Nebraska at $295-$296 and steady in the western Corn Belt at $295.
Estimated total cattle slaughter last week of 622,000 head was the same as a week earlier but 22,000 head less than the same week last year. Year-to-date estimated cattle slaughter of 11.4 million head was 527,000 head less (-4.4%) than the same time last year. Estimated year-to-date beef production of 9.6 billion pounds was 208.8 million pounds less (-2.1%) less than a year earlier.
Choice boxed beef cutout value was 82¢ lower Friday afternoon at $294.57/cwt. Select was $1.59 lower at $284.17/cwt. Week to week on Friday, Choice was 37¢ higher but Select was $3.48 lower.
Cattle futures were mixed Friday.
Live Cattle futures closed an average of 44¢ higher. Week to week on Friday, they were an average of 83¢ lower.
Feeder Cattle futures closed narrowly mixed, from an average of 11¢ lower to an average of 21¢ higher with the front months pressured by Corn futures. Feeder Cattle futures were an average of $3.19 lower week to week on Friday.
Grain and Soybean futures closed higher Friday, supported by the monthly World Agricultural Supply and Demand Estimates (see below), which were less bearish than expected.
KC HRW Wheat futures closed 12¢ to 21¢ higher.
Corn futures closed mostly 9¢ to 13¢ higher through May ’25, and then mostly 4¢ higher.
Soybean futures closed 7¢ to 10¢ higher through Sep ’24, and then mostly 3¢ to 4¢ higher.
Cattle futures were lower again Thursday, on weaker boxed beef cutout values and the lack of cash direction.
Live Cattle futures were an average of 63¢ lower.
Feeder Cattle futures were an average of $1.19 lower.
Front month Cattle futures were trending mixed early in today’s session.
Negotiated cash fed cattle trade ranged from at a standstill in the Texas Panhandle to mostly inactive on light demand elsewhere through Thursday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $184/cwt. in the Southern Plains $186-$187 in Nebraska and $185-$187 in the western Corn Belt. Dressed delivered prices were $294-$295.
Choice boxed beef cutout value was $1.28 lower Thursday afternoon at $295.39/cwt. Select was $2.49 lower at $285.76/cwt.
Net U.S. beef export sales the week ending May 2 of 12,300 metric tons for 2024 were down 45% from the previous week and 29% from the prior four-week average. Increases were primarily for Japan, South Korea, Mexico, Taiwan, and Canada.
Grain futures were lower Wednesday with likely producer selling and perhaps positioning ahead of Friday’s World Agricultural Supply and Demand Estimates.
Corn futures mostly 1¢ to 2¢ lower through Jly ‘25. Kansas City Wheat futures mostly 3¢ higher. Soybean were 9¢ to 20¢ lower through Aug ‘25.
Cattle futures were lower Wednesday on wobbly boxed beef values and the lack of weekly cash fed cattle direction.
Heading into the close and before settlement, Live Cattle futures were an average of $1.18 lower. Feeder Cattle futures were an average of $1.60 lower.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $184/cwt. in the Southern Plains $186-$187 in Nebraska and $185-$187 in the western Corn Belt. Dressed delivered prices were $294-$295.
Choice boxed beef cutout value were $1.82 lower Wednesday afternoon at $296.67/cwt. Select was $4.09 lower at $288.25/cwt.
Grain futures were lower Wednesday with likely producer selling and perhaps positioning ahead of Friday’s World Agricultural Supply and Demand Estimates.
Heading into the close, Corn futures were 5¢ to 8¢ lower through May ‘25. Kansas City Wheat futures were mostly 10¢ to 15¢ lower through Jly ’25. Soybean were mostly 12¢ to 21¢ lower through Mar ‘25.
Cattle futures bounced back Tuesday, supported by resurgent wholesale beef values.
Toward the close and ahead of settlement, Live Cattle futures were an average of $1.06 higher. Feeder Cattle futures were an average of $1.60 higher.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $184/cwt. in the Southern Plains $186-$187 in Nebraska and $185-$187 in the western Corn Belt. Dressed delivered prices were $294-$295.
Wholesale beef prices continued to firm, offering hopes that the seasonal rally has begun.
Choice boxed beef cutout value was 27¢ lower Tuesday afternoon at $298.49/cwt. Select was $2.59 higher at $292.34/cwt.
Grain futures softened Tuesday amid likely producer selling. Heading into the close, Corn futures were narrowly mixed from fractionally lower to 3¢ lower in the front three contracts and then fractionally higher to 1¢ higher through Dec ‘25. Kansas City Wheat futures were 7¢ to 15¢ lower through May ‘25. However, Soybean were mostly 3¢ to 7¢ higher through Jly ‘25.
Heading into the close and before settlement, Live Cattle futures were an average of 27¢ higher through the front five contracts, buoyed by last week’s stronger cash trade and then unchanged to an average of 61¢ lower.
Feeder Cattle futures were an average of $1.28 lower with pressure from nearby Corn contracts.
Heading into the close Monday Grain and Soybean futures continued higher as traders appeared to bet on planting progress delays in the weekly Crop Progress report (see below).
Corn futures were mostly 7¢ to 10¢ higher through near Sep.
Kansas City Wheat futures were mostly 18¢ to 20¢ higher through Jly ’25.
Soybean were 21¢ to 32¢ higher through near Sep.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $2 higher in the Southern Plains at $184/cwt., $2 higher in Nebraska at $186-$187 and $1 higher in the western Corn Belt at $185-$187. Dressed delivered prices were steady to $1 higher in Nebraska at $294-$295 and mostly $1 higher in the western Corn Belt at mainly $295.
The weekly weighted average five-area direct FOB live steer price was $1.59 higher at $185.74. The average dressed delivered steer price was 26¢ higher at $294.65.
Choice boxed beef cutout value was $4.56 higher Monday afternoon at $298.76/cwt. Select was $2.10 higher at $289.75/cwt.
Cattle futures mostly edged higher Friday, extending gains from the previous session and supported by higher cash fed cattle prices.
Live Cattle futures closed an average of 43¢ higher., except for 12¢ lower in the spot month. They were an average of $2.39 lower week to week on Friday.
Feeder Cattle futures closed narrowly mixed, from an average of 32¢ lower in the front three contracts to an average of 13¢ higher. They were an average of $5.38 lower week to week on Friday.
Negotiated cash fed cattle trade in the Southern Plains ranged from slow on light demand in the Texas Panhandle to moderate on moderate demand in Kansas through Friday afternoon, according to the Agricultural Marketing Service. Elsewhere, trade was slow on light demand.
For the week, FOB live prices were $2 higher in the Southern Plains at $184/cwt., $2 higher in Nebraska at $186-$187 and $1-$3 higher in the western Corn Belt at $187. Dressed delivered prices were steady to $1 higher in Nebraska at $295 and $1 higher in the western Corn Belt at $295.
Choice boxed beef cutout value was $1.30 higher Friday afternoon at $294.20/cwt. Select was 33¢ lower at $287.65/cwt. However, week to week on Friday, Choice was $2.94 lower and Select was $1.07 lower.
Total estimated cattle slaughter of 619,000 head last week was 6,000 more than the previous week but 2,000 head less than the same week last year. Year-to-date estimated total cattle slaughter of 10.8 million head was 509,700 head fewer (-4.5%). Year-to-date estimated beef production of 9.0 billion pounds was 214.1 million pounds less (-2.3%).
Turning to row crops, Grain and Soybean futures continued higher Friday as traders added weather premiums.
KC HRW Wheat futures closed 11¢ to 13¢ higher through May ’25. and then mostly 6¢ to 7¢ higher.
Corn futures closed mostly 3¢ higher.
Soybean futures closed 9¢ to 14¢ higher through Aug ’25 and then mostly 7¢ higher.
Cattle futures rallied back Thursday, fueled by confirmation that no traces of Bovine Influenza A virus (BIAV) were found in ground beef samples by USDA’s Animal and Plant Health Inspection Service (APHIS).
Live Cattle futures closed an average of $2.37 higher.
Feeder Cattle futures closed an average of $3.26 higher.
Negotiated cash fed cattle trade ranged from slow on light demand in the North to a standstill in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices are $2-$3 higher in Nebraska at $187/cwt. and $1-$3 higher in the western Corn Belt at $187. Dressed delivered prices are steady to $1 higher at $294-$295.
FOB live prices in the Southern Plains last week were $182.
Choice boxed beef cutout value was 64¢ lower Thursday afternoon at $292.90/cwt. Select was 9¢ lower at $287.98/cwt.
Cattle futures tried to overcome the Bovine Influenza A virus headlines but couldn’t, taking another step lower Wednesday.
Heading into the close, Live Cattle futures were an average of $1.64 lower (67¢ to $2.30 lower).
Feeder Cattle futures were an average of $3.55 lower.
Negotiated cash fed cattle trade ranged from slow on light demand to a standstill through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $182/cwt. in the Southern Plains, $184-$185 in Nebraska and $184-$186 in the western Corn Belt. Dressed delivered prices were $294-$295.
Choice boxed beef cutout value was 83¢ lower Wednesday afternoon at $293.54/cwt. Select was $1.88 lower at $288.07/cwt.
Heading into the close, Corn futures were 1¢ to 3¢ higher through Jly ‘25. Soybean were mostly 5¢ higher through Jly ‘25. Kansas City Wheat futures were mostly 6¢ to 10¢ lower through Jly ‘25.
Cattle futures tumbled Tuesday on new that Bovine Influenza A virus (BIAV) was confirmed in Colorado dairy cows and chatter that USDA was testing ground beef for particles of the virus in states where BIAV had been confirmed.
Live Cattle futures closed an average of $2.21 lower.
Feeder Cattle futures closed an average of $4.12 lower.
Negotiated cash fed cattle trade in the Southern Plains and Nebraska was at a standstill through Tuesday afternoon, according to the Agricultural Marketing Service. In the Western Corn belt, trade was slow on light demand. The most recent market in that region was Monday with live FOB purchases at $185/cwt. Last week dressed delivered purchases traded at $294 on a light test.
Last week, FOB live prices were steady in the Southern Plains at $182/cwt., mostly $1-$2 higher in Nebraska at $184-$185 and steady to $2 higher in the western Corn Belt at $184-$186. Dressed delivered prices were $2 higher at $294-$295 in Nebraska and $294 in the western Corn Belt.
Choice boxed beef cutout value was $3.16 lower Tuesday afternoon at $294.37/cwt. Select was 26¢ lower at $289.95/cwt.
KC HRW Wheat futures closed 6¢ to 21¢ lower.
Corn futures closed mostly 1¢ to 2¢ lower.
Soybean futures closed 15¢ to 22¢ lower.
Cattle futures softened Monday, taking a break from last week’s gains and amid likely profit taking and month-end positioning.
Heading into the close, Live Cattle futures were an average of 67¢ lower (32¢ to $1.35 lower), except for 77¢ higher in spot Apr. Feeder Cattle futures were an average of 42¢ lower.
Negotiated cash fed cattle trade ranged from slow on light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were steady in the Southern Plains at $182/cwt., mostly $1-$2 higher in Nebraska at $184-$185 and steady to $2 higher in the western Corn Belt at $184-$186. Dressed delivered prices were $2 higher at $294-$295 in Nebraska and $294 in the western Corn Belt.
The weighted average five-area direct FOB live steer price last week was $1.48 higher at $182.67. The weighted average dressed delivered steer price was $2.04 higher at $294.39.
Choice boxed beef cutout value was 39¢ higher Monday afternoon at $297.53/cwt. Select was $1.49 higher at $290.21/cwt.
Heading into the close, Corn futures were fractionally lower through Mar ‘25. Soybean were 1¢ to 4¢ higher through Nov. ‘24.
Cattle futures closed higher Friday, helped along by stronger cash fed cattle prices to end the week, as well as weekly gains in Choice wholesale beef values.
Live Cattle futures closed an average of 56¢ higher. They were an average of $3.82 higher week to week on Friday.
Feeder Cattle futures closed an average of $2.07 higher. They were an average of $6.60 higher week to week.
Negotiated cash fed cattle trade ranged from slow on light demand to a standstill through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were steady in the Southern Plains at $182/cwt., mostly $1-$2 higher in Nebraska at $184-$185 and steady to $2 higher in the western Corn Belt at $184-$186. Dressed delivered prices were $2 higher at $294-$295 in Nebraska and $294 in the western Corn Belt.
Choice boxed beef cutout value was 22¢ higher Friday afternoon at $297.14/cwt. Select was 94¢ lower at $288.72/cwt.
Estimated total cattle slaughter last week of 613,000 head was 7,000 head fewer than the previous week and 14,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 10.2 million head was 505,000 head fewer (-4.7%) than the same time last year. Year-to-date beef production of 8.5 billion pounds was 229.6 million pounds less (-2.6%).
Turning to row crops, KC HRW Wheat futures closed 11¢ to 14¢ higher. Corn futures closed mostly 1¢ to 3¢ lower. Soybean futures closed mixed, fractionally lower to 3¢ lower through Jan ’25 and then fractionally higher to 3¢ higher.
Heading into Wednesday’s close, Cattle futures were recovering from the previous day’s losses, helped along by higher cash fed cattle trade in the north.
Live Cattle futures mixed, from an average of $1.86 higher.
Feeder Cattle futures were an average of $1.80 higher.
Negotiated cash fed cattle trade and demand were moderate in Nebraska and slow on light demand in the western Corn Belt, through Thursday afternoon, according to the Agricultural Marketing Service. FOB live prices were $1-$2 higher in Nebraska at $184-$185/cwt. and steady to $2 higher in the western Corn Belt a $184-$186.
Dressed delivered prices were $1-$2 higher in Nebraska at $294. Dressed delivered prices in the western Corn Belt last week were $292.
So far this week, FOB live prices are steady in the Southern Plains at $282.
Choice boxed beef cutout value was $1.18 higher Thursday afternoon at $296.92/cwt. Select was 76¢ lower at $289.66/cwt.
Turning to row crops, heading into the close, Kansas City Wheat futures were 1¢ to 2¢ lower through Mar ’25 on likely profit taking and producer selling. Corn futures were fractionally higher to 1¢ lower through Jly ‘25. Soybean futures were mostly fractionally lower through May ‘25.
Heading into Wednesday’s close, Cattle futures were sharply lower, pressured by news that viral fragments of Highly Pathogenic Avian Influenza (HPAI) were found in pasteurized milk during the ongoing investigation into Bovine Influenza A virus found in dairy cattle. Although there is no reason to doubt the safety of pasteurized milk, the headlines made traders skittish.
Feeder Cattle futures were an average of $2.32 lower.
Negotiated cash fed cattle trade and demand were moderate in the Southern Plains through Wednesday afternoon, according to the Agricultural Marketing Service. FOB live prices were steady at $182/cwt.
Elsewhere, trade ranged from mostly inactive on light demand to a standstill.
Last week, FOB live prices were mainly $183 in Nebraska and $184 in the western Corn Belt. Dressed delivered prices were $292-$293.
Choice boxed beef cutout value was $1.66 lower Wednesday afternoon at $295.74/cwt. Select was $2.34 lower at $290.42/cwt.
Heading into the close, wheat was higher again based on weather concerns.
Kansas City Wheat futures were 14¢ to 17¢ higher through Jly ‘25.
Corn futures were mostly 1¢ to 5¢ lower through Mar ‘25.
Soybean futures were mostly fractionally mixed through Jly ‘25.
Cattle futures were mixed with Live Cattle taking a breather and awaiting weekly cash direction while last Friday’s Cattle on Feed report continued helping lift Feeder Cattle.
Feeder Cattle futures were an average of 69¢ higher. Live Cattle futures mixed, from an average of 63¢ lower in the front five contracts to an average of an average of 84¢ higher.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $182/cwt., in the Southern Plains, mostly $183 in Nebraska and $184 in the western Corn Belt. Dressed delivered prices were $292-$293.
Choice boxed beef cutout value was $1.47 higher Tuesday afternoon at $297.40/cwt. Select was 89¢ higher at $292.76/cwt.
Heading into the close Tuesday, Wheat futures were the grain the complex higher again, based on weather concerns and apparent short covering.
Kansas City Wheat futures were 11¢ to 13¢ higher through Jly ‘25.
Corn futures were mostly 1¢ to 3¢ higher through Jly ‘25.
Soybean futures were 1¢ to 5¢ higher through Nov ‘24.
Cattle futures surged higher Monday, supported by Friday’s friendly Cattle on Feed report, which indicated fewer March placements than expected.
At the close and before final settlement, Live Cattle futures were an average of $2.56 higher and Feeder Cattle futures were an average of $3.71 higher.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were steady in the Southern Plains at $182/cwt., mostly $1 lower in Nebraska at mainly $183 and $1 lower in the western Corn Belt at $184. Dressed delivered prices were steady to $1 lower in Nebraska at $292-$293 and $1 lower in the western Corn Belt at $292 in a light test.
The weighted average five-area direct FOB live steer price last week was $1.17 lower at $182.67/cwt. The weighted average dressed delivered steer price was 74¢ lower at $292.35.
Choice boxed beef cutout value was 26¢ higher Monday afternoon at $295.93/cwt. Select was $1.04 higher at $291.87/cwt.
Cattle futures were narrowly mixed Friday with uncertainty about the Cattle on Feed report, which ultimately proved to be likely supportive.
Live Cattle futures closed an average of 12¢ higher, except for unchanged to an average of 5¢ lower in three contracts. They were an average of $4.20 higher week to week on Friday.
Feeder Cattle futures closed an average of 57¢ lower. They were an average of $6.82 higher week to week on Friday.
Negotiated cash fed cattle trade was moderate on moderate demand in the Southern Plains and Nebraska through Friday afternoon, according to the Agricultural Marketing Service. Trade in the western Corn Belt was slow on light to moderate demand.
FOB live prices were steady in the Southern Plains at $182/cwt., mostly $1 lower in Nebraska at $183 and $1 lower in the western Corn Belt at $184. Dressed delivered prices were $1 lower at $292.
Choice boxed beef cutout value was 13¢ lower Friday afternoon at $295.67/cwt. Select was $1.56 higher at $290.83/cwt.
Last week, estimated total cattle slaughter of 620,000 head was 17,000 head more than the previous week but 5,000 head fewer than the same week last year. Estimated year-to-date total cattle slaughter of 9.5 million head was 486,000 head fewer (-4.7%). Estimated year-to-date beef production of 8 billion pounds was 233.9 million pounds less (-2.8%). For broader context, estimated total year-to-date red meat production is 1.3% less.
Turning to row crops, Grain and Soybean futures rallied Friday with likely short covering.
Corn futures closed mostly 4¢ to 6¢ higher, with added support from the Environmental Protection Agency’s emergency fuel waiver to allow E15 gasoline — gasoline blended with 15% ethanol — to be sold during the summer driving season.
KC HRW Wheat futures closed mostly 6¢ to 7¢ higher.
Soybean futures closed 11¢ to 16¢ higher through Jan ’25.
Cattle futures gained Thursday with likely positioning ahead of Friday’s monthly Cattle on Feed report. Export sales also provided support.
Net U.S. beef export sales for the week ending April 11 were 17,700 metric tons for 2024, according to the weekly U.S. Export Sales report. That was 30% more than the previous week and 27% more than the prior four-week average. Increases were primarily for South Korea, China, Japan, Taiwan and Mexico.
At the close and before final settlement, Live Cattle futures were an average of $1.46 higher. Feeder Cattle futures were an average of $1.65 higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $182/cwt. in the Southern Plains, $184 in Nebraska and $185 in the western Corn Belt. Dressed delivered prices were $293.
Choice boxed beef cutout value was $1.01 lower Thursday afternoon at $295.80/cwt. Select was $1.61 lower at $289.27/cwt.
Turning to row crops before the close, Corn futures mostly 4¢ lower. Kansas City Wheat futures were 4¢ to 5¢ higher through Jly ’25. Soybean futures were 10¢ to 16¢ lower through Jly ’25.
Cattle futures drifted Wednesday as traders awaited cash direction. Likely, there was added hesitancy ahead of Friday monthly Cattle on Feed report. Estimates see placements being 8% less year over year and marketings down 12% for an April 1 inventory about 2% higher.
At the close and before final settlement, Live Cattle futures mixed, from an average of 28¢ lower in the front four contracts to an average of 27¢ higher. Feeder Cattle futures were an average of 24¢ lower, except for 15¢ higher in spot Apr.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $182/cwt. in the Southern Plains, $184 in Nebraska and $185 in the western Corn Belt.
Dressed delivered prices were $3-$4 lower in Nebraska at $293 and $4 lower in the western Corn Belt at $293.
Choice boxed beef cutout value was $1.24 lower Wednesday afternoon at $296.78/cwt. Select was $1.76 lower at $290.88/cwt.
Turning to row crops toward the close, Corn futures were mostly 2¢ lower through Dec ‘25. Kansas City Wheat futures were mostly 8¢ to 13¢ lower through Jly ’25. Soybean futures were 1¢ to 4¢ higher through Jan ’25.
Cattle futures continued higher Tuesday for the second consecutive session, perhaps establishing a bottom.
At the close and before final settlement, Live Cattle futures were an average of $1.59 higher. Feeder Cattle futures were an average of $2.38 higher.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $182/cwt. in the Southern Plains, $184 in Nebraska and $185 in the western Corn Belt. Dressed delivered prices were $293.
Choice boxed beef cutout value was $2.86 lower Tuesday afternoon at $298.02/cwt. Select was $1.30 higher at $292.64/cwt.
Turning to row crops, heading into the close, Corn and Soybean futures were lower again with likely pressure from positive weather and the early planting pace. According to USDA’s weekly Crop Progress report, 6% of corn was in the ground, which was 1% more than the five-year average; and 3% of soybeans were planted, which was 2% more than average.
Corn futures were mostly 1¢ to 2¢ lower through Dec ‘25. Soybean futures were 8¢ to 13¢ lower through Jly ’25. However, Kansas City Wheat futures were mostly 1¢ to 3¢ higher through Jly ’25.
Cattle futures bounced back some Monday with likely short covering.
At the close and before final settlement, Live Cattle futures were an average of $1.86 higher. Feeder Cattle futures were an average of $3.51 higher.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 lower in the Texas Panhandle at $182/cwt., $1-$2 lower in Kansas at $182, $3 lower in Nebraska at $184 and $2 lower in the western Corn Belt at $185.
Dressed delivered prices were $3-$4 lower in Nebraska at $293 and $4 lower in the western Corn Belt at $293.
The five-area direct weighted average FOB live steer price last week was $1.89 lower at $183.84. The average dressed delivered steer price was $3.78 lower at $293.09.
Choice boxed beef cutout value was 31¢ higher Monday afternoon at $300.88/cwt. Select was $4.20 lower at $291.34/cwt.
Turning to row crops, heading into the close, Grain and Soybean futures gave back gains from the previous session with likely producer selling.
Corn futures were 3¢ to 4¢ lower through May ‘25. Kansas City Wheat futures were 4¢ to 5¢ lower through May ’25. Soybean futures were 8¢ to 15¢ lower through Jan ’25.
Cattle futures sank lower Friday with pressure including the bounce higher in grain futures, more cases of Bovine Influenza A Virus in dairy cattle and struggling outside markets.
Live Cattle futures closed an average of $2.39 lower.
Feeder Cattle futures closed an average of $3.27 lower.
Week to week on Friday, Live Cattle futures closed an average of $1.39 and Feeder Cattle futures closed an average of $3.25 lower.
Negotiated cash fed cattle trade ranged from slow on light demand to moderate on moderate demand through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $2 lower in the Texas Panhandle at $182/cwt., $1-$2 lower in Kansas at $182, $3 lower in Nebraska at $184 and $2 lower in the western Corn Belt at $185.
Dressed delivered prices were $3-$4 lower in Nebraska at $293 and $4 lower in the western Corn Belt at $293.
Choice boxed beef cutout value was $2.20 higher Friday afternoon at $300.57/cwt. Select was 39¢ higher at $295.54/cwt.
Estimated total cattle slaughter last week of 603,000 head was 10,000 head fewer than the previous week and 8,000 head fewer than the same week a year earlier. Year-to-date estimated total cattle slaughter of 8.9 million head was 482,000 head fewer (-5.1%) year over year. Year-to-date estimated beef production of 7.5 billion pounds was 251.6 million pounds less (-3.3%).
Grain and Soybean futures rallied Friday as funds appeared to exit positions amid risk-off sentiment in equity markets.
Corn futures closed 5¢ to 6¢ higher through Jly ’25 and then mostly 2¢ to 3¢ higher.
KC HRW Wheat futures closed 5¢ to 8¢ higher through May ’25 and then mostly 3¢ higher.
Soybean futures closed 11¢ to 14¢ higher through Jan ’25 and then 6¢ to 9¢ higher.
Cattle futures were higher into the close and before settlement on Thursday, despite steady to lower early cash fed cattle prices and recently weaker wholesale beef values.
Live Cattle futures were an average of 56¢ higher. Feeder Cattle futures were an average of 95¢ higher.
Negotiated cash fed cattle trade ranged from slow on light demand to moderate on moderate demand through Thursday afternoon, according to the Agricultural Marketing Service.
Compared to last week, FOB live prices were $1-$2 lower in Kansas at $182/cwt. and $2 lower in the western Corn Belt at $185 where dressed delivered prices were $4 lower at mostly $293.
Last week, FOB live prices were $184 in the Texas Panhandle and $187 in Nebraska where dressed delivered prices were $296-$297.
Choice boxed beef cutout value was 14¢ higher at $298.37/cwt. Select was 87¢ lower at $295.15.
Turning to row crops, Grain and Soybean futures were trending lower at the close Thursday with pressure from the monthly World Agricultural Supply and Demand Estimates (see below).
Corn futures 3¢ to 5¢ lower through Mar ‘25. Kansas City Wheat futures were 8¢ to 11¢ lower through May ‘25. Soybean futures were 4¢ to 5¢ lower through next March.
Cattle futures lost more ground Wednesday with pressures including heavy carcass weights and announced import restrictions by some states on cattle from states with confirmed cases of Bovine Influenza A Virus (BIAV).
At the close and before final settlement, Live Cattle futures were an average of $1.57 lower. Feeder Cattle futures were an average of $2.72 lower.
Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $184/cwt. in the Texas Panhandle, $183-$184 in Kansas and $187 in the north. Dressed delivered prices were $296-$297 in Nebraska and $297 in the western Corn Belt.
Choice boxed beef cutout value was $3.86 lower at $298.23/cwt. Select was $3.88 lower at $296.02.
Turning to row crops, heading toward Wednesday’s close, Kansas City Wheat futures were 8¢ to 17¢ higher through Dec ’25 which helped drag Corn futures mostly 2¢ to 4¢ higher through near Dec.
However, Soybean futures were 5¢ to 9¢ lower ahead of Thursday’s monthly World Agricultural Supply and Demand Estimates.
Cattle futures gained some Tuesday with a likely technical bounce.
At the close and before final settlement, Live Cattle futures closed an average of $1.26 higher, while Feeder Cattle futures closed an average of $1.94 higher.
Negotiated cash fed cattle trade was at a standstill through in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $184/cwt. in the Texas Panhandle, $183-$184 in Kansas and $187 in the north. Dressed delivered prices were $296-$297 in Nebraska and $297 in the western Corn Belt.
Choice boxed beef cutout value was 2¢ higher Tuesday afternoon at $302.09/cwt. Select was 37¢ lower at $299.90.
Turning to row crops, positive weather outlooks in the U.S. and South America helped pressure grains Tuesday. Heading toward the close,
Corn futures were down 4¢ to 6¢ through Dec. ’25, Kansas City Wheat futures were mostly 6¢ to 13¢ lower through Dec ’25 and Soybean futures were mostly 6¢ lower through the front of the Board.
Higher wholesale beef values helped Live Cattle futures firm on Monday.
Live Cattle closed an average of 67¢ higher.
Feeder Cattle futures closed an average of 50¢ lower, except for $1.45 higher in spot Apr.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 lower in the Texas Panhandle at $184/cwt., $1-$2 lower in Kansas at $183-$184, $2-$3 lower in Nebraska at $187 and $1-$3 lower in the western Corn Belt at $187. Dressed delivered prices were $3-$5 lower in Nebraska at $296-$297 and $2-$3 lower in the western Corn Belt at $297.
The weighted average five-area direct FOB live steer price last week was $2.50 lower at $185.73. The weighted average dressed delivered steer price was $2.62 lower at $296.87.
Choice boxed beef cutout value was $4.90 higher Monday afternoon at $302.07/cwt. Select was $5.57 higher at $300.27/cwt.
Turning to row crops, Corn futures closed mostly fractionally higher to 1¢ higher. KC HRW Wheat futures closed mostly 5¢ higher.
Cattle futures plumbed lower Friday with continued concerns about Highly Pathogenic Avian Influenza in dairy cattle.
Live Cattle closed an average of $3.08 lower ($2.70 to $3.80 lower).
Feeder Cattle futures closed an average of $4.96 lower ($3.92 to $5.85 lower).
Negotiated cash fed cattle trade ranged from moderate on moderate demand in the Southern Plains to slow on light demand through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $2 lower in the Texas Panhandle at $184/cwt., $1-$2 lower in Kansas at $183-$184, $2-$3 lower in Nebraska at $187 and $1-$3 lower in the western Corn Belt at $187. Dressed delivered prices were $3-$5 lower in Nebraska at $296-$297 and $2-$3 lower in the western Corn Belt at $297.
Choice boxed beef cutout value was 2¢ higher Friday afternoon at $297.17/cwt. Select was $1.35 lower at $294.70/cwt.
Estimated total cattle slaughter last week of 609,000 head was 23,000 more than the previous week and 4,000 head more than the same week a year earlier. Total estimated year-to-date cattle slaughter of 8.3 million head was 473,000 fewer (-5.4%) year over year. Estimated year-to-date beef production of 7.0 billion pounds was 264.6 million pounds less (-3.7%).
Corn futures closed mostly unchanged to fractionally mixed.
KC HRW Wheat futures closed mostly 3¢ to 6¢ higher.
Soybean futures closed 1¢ to 5¢ higher through Nov ’24 and then mostly 3¢ to 4¢ lower.
Negotiated cash fed cattle trade was slow on light demand in the North through Thursday afternoon, according to the Agricultural Marketing Service. For the week, FOB live prices are $2-$3 lower at $187/cwt. Dressed delivered prices are $3-$5 lower in Nebraska at $296-$297 and $2-$3 lower in the western Corn Belt at $297.
Trade was at a standstill in the Southern Plains. FOB live prices last week were $186 in the Texas Panhandle and $185-$186 in Kansas.
Choice boxed beef cutout value was $4.15 lower at $297.15/cwt. Select was 87¢ lower at $296.05/cwt.
Cattle futures edged higher Thursday, but were down sharply lower at mid-session on Friday as concerns about Highly Pathogenic Avian Influenza continue to weigh.
Live Cattle closed an average of 89¢ higher (25¢ to $1.25 higher).
Feeder Cattle futures closed an average of $1.46 higher (75¢ to $2.02 higher).
Grain futures closed higher with apparent short covering.
Corn futures closed 1¢ to 3¢ higher through Jly ’25 .and then fractionally higher.
KC HRW Wheat futures closed fractionally higher to 1¢ higher, except for 3¢ lower in spot May.
Soybean futures closed fractionally lower to 3¢ lower through Jan ’25 and then fractionally higher to 1¢ higher.
Cattle futures closed lower Wednesday with pressure including softer early cash fed cattle prices, weakening wholesale beef values and continued uncertainty tied to Highly Pathogenic Avian Influenza (HPAI) in dairy cows linked to a rare case in humans.
Live Cattle closed an average of 74¢ lower.
Feeder Cattle futures closed an average of $2.05.
Through Wednesday afternoon, negotiated cash fed cattle trade was slow on light demand in the North, according to the Agricultural Marketing Service.
There were some early live delivered trades in Nebraska at $189/cwt. FOB live sales there last week were $189-$190). There were also some early FOB live sales the western Corn Belt at $187, which was $1-$3 lower. Dressed delivered prices in Nebraska were $4-$6 lower at $296. Dressed delivered prices in the western Corn Belt last week were $299-$300 in a very light test.
Elsewhere, trade was mostly inactive on light demand. Last week, FOB live prices were $186/cwt. in the Texas Panhandle and $185-$186 in Kansas.
Choice boxed beef cutout value was $2.86 lower Wednesday afternoon at $301.30/cwt. Select was $2.07 lower at $296.92/cwt.
Grains and Soybean futures closed higher Wednesday with apparent short covering.
Corn futures closed mostly 2¢ to 5¢ higher.
KC HRW Wheat futures closed 10¢ to 17¢ higher.
Soybean futures closed mostly 6¢ to 8¢ higher.
Cattle futures firmed and clawed back a little ground without much conviction on Tuesday after being hammered by panic selling in the previous session, tied to Highly Pathogenic Avian Influenza (HPAI) in dairy cows linked to a rare case in humans.
Live Cattle closed an average of $1.02 higher (50¢ to $1.70 higher).
Feeder Cattle futures closed an average of $2.43 higher ($1.35 to $3.07 higher).
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $186/cwt. in the Texas Panhandle, $185-$186 in Kansas, $189-$190 in Nebraska and $188-$190 in the western Corn Belt. Dressed delivered prices were $299-$302 in Nebraska and $299-$300 in the western Corn Belt.
Choice boxed beef cutout value was $1.58 lower Tuesday afternoon at $304.16/cwt. Select was $2.80 lower at $298.99/cwt.
Corn futures closed 4¢ to 9¢ lower through Sep ’25 and then fractionally lower to 2¢ lower.
KC HRW Wheat futures closed 9¢ to 13¢ lower through May ’25. and then 6¢ to 7¢ lower.
Soybean futures closed 4¢ to 11¢ lower through Jan ’25.
Cattle futures, already weakened by last week’s lower cash fed cattle trade and Choice wholesale beef values, crumbled Monday with another round of panic selling tied to Highly Pathogenic Avian Influenza (HPAI) in dairy cows linked to a rare case in humans (see below).
Live Cattle closed an average of $4.91 lower (45¢ lower at the back to $6.10 lower).
Feeder Cattle futures closed an average of $6.91 lower.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Services.
Last week, FOB live prices were $2 lower in the Texas Panhandle at $186/cwt., $2-$3 lower in Kansas at $185-$186, steady to $1lower in Nebraska at $189-$190 and $1-$2 lower in the western Corn belt at $188-190. Dressed delivered prices were steady to $3 lower in Nebraska at 299-$302 and $2-$3 lower in the western Corn Belt at $299-300.
The five-area weighted average FOB live steer price last week was $1.33 lower at $188.23/cwt. The weighted average dressed delivered steer price was $2.64 lower at $299.49.
Choice boxed beef cutout value was 98¢ lower Monday afternoon at $305.74/cwt. Select was $1.64 lower at $301.79/cwt.
Corn futures closed 1¢ to 6¢ lower through Sep ’25 and then mostly fractionally lower.
KC HRW Wheat futures closed mostly 5¢ to 9¢ lower.
Soybean futures closed mostly 2¢ to 5¢ lower.
Futures and equity markets were closed on Friday, in observance of Good Friday.
Although Cattle futures firmed at the end of weekly trade, they ended sharply lower week to week, due in part to the previous Friday’s monthly Cattle on Feed report. As mentioned in Cattle Current, feedlot placements in February were 9.7% more year over year and 3.4% more than expected.
Futures also suffered from panic selling earlier in the week that stemmed from confirmation of Highly Pathogenic Avian Influenza in dairy cows (see below).
Week to week on Thursday, Live Cattle futures closed an average of $4.22 lower ($3.37 to $5.07 lower).
Negotiated cash fed cattle prices softened, too. For the week, FOB live prices were $2 lower in the Southern Plains at $186/cwt., steady to $1 lower in Nebraska at $189-$190 and $1-$2 lower in the western Corn Belt at $188-$190. Dressed delivered prices were steady to $3 lower in Nebraska at $299-$302. Dressed delivered prices in the western Corn Belt the previous week were $302.
Choice boxed beef cutout value was $4.00 lower week to week on Friday at $306.72/cwt. Select was $1.96 higher at $303.43. Friday’s Choice-Select spread of $3.29 was the lowest in about two years.
Estimated total cattle slaughter last week of 586,000 head was 12,000 head fewer than the previous week and 59,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 7.7 million head was 473,000 head fewer (-5.8%). Estimated year-to-date beef production of 6.5 billion pounds was 284.5 million pounds less (-4.2%).
Cattle futures gained Thursday, recovering more of the early-week losses as traders positioned for the end of the week and quarter, and ahead of a long weekend.
Live Cattle closed an average of $1.49 higher.
Feeder Cattle futures closed an average of 89¢ higher, except for 30¢ lower in expiring Mar.
Negotiated cash fed cattle trade was moderate on moderate demand in the Texas Panhandle through Thursday afternoon, according to the Agricultural Marketing Service. FOB live prices were $2 lower at $186/cwt.
A day earlier FOB live prices were $3 lower in Kansas at $185.
Elsewhere, trade was slow on light demand with too few transactions to trend.
Last week, FOB live prices were $190 in Nebraska and $190-$191 in the western Corn Belt. Dressed delivered prices were $302.
Choice boxed beef cutout value was 22¢ lower Thursday afternoon at $308.36/cwt. Select was $2.74 higher at $301.17/cwt.
Net U.S. beef export sales of 12,700 metric tons (mt) for 2024 were 15% more than the previous week and 4% more than the prior four-week average, according to USDA’s weekly U.S. Export Sales report for the week ending Mar. 21. Increases were primarily for South Korea, Japan, China, Mexico and Taiwan.
Turning to row crops, Corn futures climbed higher, up mostly 10¢ to 15¢, fueled by USDA’s Prospective Plantings report (see below).
KC HRW Wheat futures closed mostly 4¢ to 5¢ higher.
Soybean futures closed mixed: 1¢ lower to 3¢ higher through Jan ’25 and then mostly 8¢ to 10¢ higher.
Cattle futures firmed Wednesday.
Feeder Cattle futures closed an average of 91¢ higher (32¢ to $1.42 higher).
Live Cattle closed an average of 27¢ higher, except for 15¢ lower in the back contract.
Negotiated cash fed cattle trade on Wednesday ranged from a standstill to slow on light demand in Kansas where FOB live prices were $3 lower at $185/cwt. in a light test, according to the Agricultural Marketing Service.
Last week, FOB live prices were $188/cwt. in the Southern Plains, $190 in Nebraska and $190-$191 in the western Corn Belt. Dressed delivered prices were $302.
Choice boxed beef cutout value was $2.51 lower Wednesday afternoon at $308.58/cwt. Select was $1.83 lower at $298.43/cwt.
Grain and Soybean futures mostly meandered lower as traders geared up for Thursday’s Prospective Plantings and Grain Stocks report from USDA.
Corn futures closed mostly 4¢ to 5¢ lower.
KC HRW Wheat futures closed mostly 1¢ lower.
Soybean futures closed mostly 6¢ to 7¢ lower.
Cattle futures sank Tuesday amid uncertainty spun by negative and potentially negative news.
Closest to home, Monday’s announced confirmation of highly pathogenic avian influenza (HPAI) in dairy cattle from herds in Kansas and Texas likely drew the attention of funds and algorithms. The infections appear to be tied to wild birds. There is no threat to the milk or food supply, according to USDA.
The National Cattlemen’s Beef Association (NCBA) issued a statement also emphasizing HPAI has not been detected in beef cattle. However, NCBA encourages producers to implement enhanced biosecurity measures on their farms and ranches to help protect their herds.”
For broader context, according to NCBA, “Detections of avian influenza in birds are common in the United States. While it is uncommon for HPAI to affect mammals, USDA’s Animal and Plant Health Inspection Service has been tracking some limited detections of HPAI in mammalian wildlife for many years in the United States.”
So, the fundamental consequences of the HPAI finding depend on consumers.
Live Cattle closed an average of $3.22 lower.
Feeder Cattle futures closed an average of $4.48 lower ($1.72 to $5.37 lower).
Choice boxed beef cutout value was 20¢ higher Tuesday afternoon at $311.09/cwt. Select was $1.70 lower at $300.26/cwt.
There was no AMS cash fed cattle report available at press time.
Last week, FOB live prices were $188/cwt. in the Southern Plains, $190 in Nebraska and $190-$191 in the western Corn Belt. Dressed delivered prices were $302.
Cattle futures closed lower Monday, with pressure including Friday’s bearish monthly Cattle on Feed report.
Live Cattle closed an average of $1.09 lower (67¢ to $1.52 lower).
Feeder Cattle futures closed an average of $1.60 lower (50¢ to $2.37 lower).
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 higher in the Southern Plains at $188/cwt., $2-$3 higher in Nebraska at $190 (a few up to $191) and $2-$3 higher in the western Corn belt at $190-$191 (a few up to $191.50). Dressed delivered prices were $2-$7 higher in Nebraska at $302 and $4 higher in the western Corn Belt at $302.
The weighted average five-area direct FOB live steer price last week was $2.09 higher at $189.56/cwt. The dressed delivered steer price was $4.07 higher at $302.13.
Choice boxed beef cutout value was 17¢ higher Monday afternoon at $310.89/cwt. Select was 49¢ higher at $301.96/cwt.
Corn futures closed mostly unchanged to fractionally lower.
KC HRW Wheat futures closed mostly 1¢ to 2¢ higher.
Soybean futures closed 10¢ to 16¢ higher through Jly ’25, and then mostly 8¢ to 9¢ higher, supported by edible oils.
Cattle futures closed lower Friday, with likely positioning ahead of what turned out to be a bearish monthly Cattle on Feed report (see below).
Live Cattle closed an average of $1.63 lower (87¢ to $2.00 lower).
Feeder Cattle futures closed an average of $3.24 lower (92¢ to $4.30 lower).
Negotiated cash fed cattle trade ranged from slow on light demand to a standstill through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, FOB live prices were $2 higher in the Southern Plains at $188/cwt., $2-$3 higher in Nebraska at $190 (a few up to $191) and $2-$3 higher in the western Corn belt at $190-$191 (a few up to $191.50). Dressed delivered prices were $2-$7 higher in Nebraska at $302 and $4 higher in the western Corn Belt at $302.
Choice boxed beef cutout value was $3.01 lower Friday afternoon at $310.72/cwt. Select was $2.26 lower at $301.47/cwt. Week to week, Choice was $1.18 lower and Select was 93¢ lower.
Estimated total cattle slaughter last week of 598,000 head was 3,000 head less than the previous week but 30,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 7.1 million head was 410,000 head fewer (-5.4%) than the same time a year earlier. Estimated beef production of 6.0 billion pounds was 250.7 million pounds less (-4.0%).
Corn futures closed mostly fractionally lower to 1¢ lower.
KC HRW Wheat futures closed mostly 8¢ higher.
Soybean futures closed 16¢ to 20¢ lower, with likely profit taking.
Negotiated cash fed cattle trade was moderate on moderate to good demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
FOB live prices were $2 higher in the Southern Plains at $188/cwt., $2-$3 higher in Nebraska at $190 (a few up to $191) and $2-$3 higher in the western Corn belt at $190-$191. Dressed delivered prices were $2-$7 higher in Nebraska at $302 and $4 higher in the western Corn Belt at $302.
Choice boxed beef cutout value was 29¢ higher Thursday afternoon at $313.73/cwt. Select was $1.02 higher at $303.73/cwt.
Despite the higher cash trade, Cattle futures edged lower Thursday, with some likely positioning ahead of Friday’s monthly Cattle on Feed report.
Live Cattle closed an average of 43¢ lower., except for 57¢ higher in spot Apr.
Feeder Cattle futures closed an average of 88¢ lower (30¢ to $1.07 lower), except for 62¢ higher in spot Mar.
Corn futures closed mostly 1¢ to 2¢ higher, helped along by weekly export numbers.
KC HRW Wheat futures closed mostly 1¢ to 2¢ higher.
Soybean futures closed mostly 1¢ to 3¢ higher, also helped by weekly exports.
Cattle futures closed slightly lower Wednesday, basically in a holding pattern ahead of weekly cash fed cattle trade and Friday’s monthly Cattle on Feed report.
Live Cattle closed an average of 37¢ lower.
Feeder Cattle futures closed an average of 36¢ lower.
Negotiated cash fed cattle trade ranged from slow on light demand to a standstill through Wednesday afternoon, according to the Agricultural Marketing Service. Although, too few to trend, there were some early FOB live sales in Kansas at $186/cwt.
Last week, FOB live prices were $186/cwt. in the Southern Plains, $187-$188 in Nebraska and $187-$189 in the western Corn Belt. Dressed delivered prices were $295-$300 in Nebraska and $298 in the western Corn Belt.
Choice boxed beef cutout value was 22¢ higher Wednesday afternoon at $313.44/cwt. Select was 47¢ lower at $302.71/cwt.
Corn futures closed mostly 2¢ higher.
KC HRW Wheat futures closed mostly 1¢ to 3¢ lower.
Soybean futures closed 12¢ to 14¢ higher, tied in part of new-crop export announcements.
Cattle futures closed narrowly mixed as traders appeared to wait for the week’s cash direction and looking toward Friday’s monthly Cattle on Feed report.
Live Cattle narrowly mixed, from an average of 38¢ lower in the front four contracts to an average of 21¢ higher.
Feeder Cattle futures closed narrowly mixed, from an average of 25¢ lower in the front three contracts to an average of 70¢ higher (10¢ to $1.07 higher).
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon.
Last week, FOB live prices were $186/cwt. in the Southern Plains, $187-$188 in Nebraska and $187-$189 in the western Corn Belt. Dressed delivered prices were $295-$300 in Nebraska and $298 in the western Corn Belt.
Choice boxed beef cutout value was 11¢ lower Tuesday afternoon at $313.22/cwt. Select was 13¢ higher at $303.18/cwt.
Grain futures firmed Tuesday.
Corn futures closed 1¢ to 3¢ higher.
KC HRW Wheat futures closed 7¢ to 9¢ higher.
Soybean futures closed mostly 1¢ higher., except for fractionally higher to 2¢ lower in the front five contracts.
Strong cash fed cattle prices and higher wholesale beef values helped Cattle futures extend gains Monday.
Live Cattle futures closed an average of $1.38 higher (70¢ higher at the back to $1.80 higher toward the front).
Feeder Cattle futures closed an average of $2.40 higher ($1.92 to $3.12 higher).
Choice boxed beef cutout value was $1.43 higher Monday afternoon at $313.33/cwt. Select was 65¢ higher at $303.05/cwt.
Negotiated cash fed cattle trade ranged from a standstill to mostly inactive on light demand through Monday afternoon with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $1 higher in the Southern Plains at $186/cwt., $2.00 higher in Nebraska at $187-$188 and $2-$3 higher in the western Corn belt at $187-$189. Dressed delivered prices were steady to $3 higher in Nebraska at $295-$300 and $6 higher in the western Corn Belt at $298.
The weighted average five-area direct FOB live steer price last week was $2.35 higher at $187.47/cwt. The weighted average dressed delivered price was $4.67 higher at $298.06.
Corn futures closed unchanged to fractionally mixed.
KC HRW Wheat futures closed 7¢ to 8¢ higher.
Soybean futures closed 7¢ to 10¢ lower.
Negotiated cash fed cattle trade was moderate on moderate demand in all major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $1 higher in the Southern Plains at $186/cwt., $2.00 higher in Nebraska at $187-$188 and $3 higher in the western Corn belt at $188-$189. Dressed delivered prices were mostly $6 higher at $298.
Choice boxed beef cutout value was $1.12 higher Friday afternoon at $311.90/cwt. Select was 71¢ higher at $302.40/cwt.
Total estimated cattle slaughter of 601,000 head last week was 18,000 head more than the previous week but 27,000 head fewer than the same week last year. Year-to-date estimated cattle slaughter of 6.5 million head was 381,000 head fewer (-5.5%) than the same time last year. Year-to-date estimated beef production of 5.5 billion pounds was 244.1 million pounds less (-4.3%).
Strong cash fed cattle prices and supportive wholesale beef values helped Cattle futures close mostly higher Friday.
Live Cattle futures closed an average of 33¢ higher.
Feeder Cattle futures closed an average of 92¢ higher (27¢ to $1.80 higher), except for an average of 46¢ lower in the back two contracts.
Corn futures closed 2¢ to 3¢ higher.
KC HRW Wheat futures closed 5¢ to 8¢ lower.
Soybean futures closed 2¢ to 3¢ higher.
Cattle futures closed sharply lower Thursday in an outside day with apparent technical pressure.
Live Cattle futures closed an average of $2.18 lower ($1.85 to $2.97 lower).
Feeder Cattle futures closed an average of $3.89 lower ($2.80 to $4.67 lower).
Negotiated cash fed cattle trade was slow on light to moderate demand in the western Corn Belt through Thursday afternoon, according to the Agricultural Marketing Service. FOB live prices were $2-$3 higher at $188.00. Dressed delivered prices were steady at $292.
Elsewhere, trade ranged from mostly inactive on light demand to a standstill with too few transactions to trend. Last week, FOB live prices were $185 in the Southern Plains and $185-$186 in Nebraska where dressed delivered prices were $292-$300.
Choice boxed beef cutout value was 96¢ higher Thursday afternoon at $310.78/cwt. Select was 65¢ higher at $301.69/cwt.
Corn futures closed 4¢ to 7¢ lower through Jly ’25 and then mostly 2¢ lower, with pressure from wheat.
KC HRW Wheat futures closed 9¢ to 12¢ lower, pressured by more bullish domestic weather, poor exports and China’s recent cancellation of purchases from the U.S. and other countries.
Soybean futures closed mixed, from 1¢ lower to 1¢ higher.
Cattle futures closed higher Wednesday with prospects of higher cash trade again this week.
Live Cattle futures closed an average of $1.42 higher ($1.17 to $2.10 higher) amid heavy volume.
Feeder Cattle futures closed an average of $1.84 higher ($1.30 higher at the front to $2.17 higher at the back).
Negotiated cash fed cattle trade was at a standstill through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $185-$186/cwt. Dressed delivered prices were $292-$300 in Nebraska and $292 in the western Corn Belt.
Choice boxed beef cutout value was 77¢ lower Wednesday afternoon at $309.82/cwt. Select was $1.44 higher at $301.04/cwt.
Corn futures closed mostly fractionally higher.
KC HRW Wheat futures closed 4¢ to 9¢ lower.
Soybean futures closed mostly fractionally lower to 1¢ lower.
Cattle futures gained Tuesday with support from higher-trending wholesale beef prices and last week’s stronger cash trade.
Live Cattle futures closed an average of 64¢ higher.
Feeder Cattle futures closed an average of 92¢ higher (57¢ to $1.32 higher).
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $185-$186/cwt. Dressed delivered prices were $292-$300 in Nebraska and $292 in the western Corn Belt.
Choice boxed beef cutout value was $1.71 higher Tuesday afternoon at $310.79/cwt. Select was 72¢ higher at $299.60/cwt.
Corn futures closed unchanged to fractionally mixed.
KC HRW Wheat futures closed mostly fractionally lower.
Soybean futures closed mostly 13¢ to 17¢ higher, supported by lower estimated production in Brazil and a hotter forecast in South America.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 higher in the Southern Plains at $185/cwt., $1.50-$2.00 higher in Nebraska at $185-$186 and $2 higher in the western Corn Belt at $185-$186. Dressed delivered prices were $2-$8 higher in Nebraska at $292-$300 and $2 higher in the western Corn Belt at $292.
Choice boxed beef cutout value was $1.84 higher Monday afternoon at $308.88/cwt. Select was $1.45 higher at $298.88/cwt.
Cattle futures drifted mainly lower Monday.
Live Cattle futures closed an average of 27¢ lower, except for an average of 16¢ higher in the back two contracts.
Feeder Cattle futures closed an average of 85¢ lower (12¢ to $1.37 lower), except for an average of 36¢ higher in the last two contracts.
Corn futures closed fractionally higher to 2¢ higher.
KC HRW Wheat futures closed 9¢ to 13¢ higher.
Soybean futures closed mostly fractionally lower to 5¢ lower.
Negotiated cash fed cattle trade was slow on light demand in all major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $2 higher in the Southern Plains at $185/cwt., $1.50-$2.00 higher in Nebraska at $185-$186 and $2 higher in the western Corn Belt at $185-$186. Dressed delivered prices were $2-$8 higher in Nebraska at $292-$300 and $2 higher in the western Corn Belt at $292.
Estimated total cattle slaughter last week of 583,000 head was 16,000 head fewer than the previous week and 48,000 head fewer than the same week last year. Year-to-date estimated cattle slaughter of 5.9 million head was 349,000 head fewer (-5.5%) than the same time last year. Year-to-date estimated beef production of 4.9 billion pounds was 231.3 million pounds less (-4.5%).
Choice boxed beef cutout value was 43¢ higher Friday afternoon at $307.04/cwt. Select was $1.17 higher at $297.43/cwt.
Cattle futures closed lower Friday despite the week’s higher cash trade and the supportive outlook in the monthly World Agricultural Supply and Demand Estimates (see below).
Live Cattle futures closed an average of 83¢ lower.
Feeder Cattle futures closed an average of $1.33 lower (62¢ to $2.20 lower).
Grain and Soybean futures closed higher with likely short covering despite neutral to bearish World Agricultural Supply and Demand Estimates.
Corn futures closed 2¢ to 3¢ higher.
KC HRW Wheat futures closed 10¢ to 14¢ higher.
Soybean futures closed 16¢ to 19¢ higher.
Cattle futures closed higher Thursday, buoyed by stronger cash fed cattle prices.
Live Cattle futures closed an average of $1.11 higher.
Feeder Cattle futures closed an average of 84¢ higher (42¢ to $1.12 higher), except for unchanged in spot Mar.
Negotiated cash fed cattle trade in the Southern Plains through Thursday afternoon ranged from a standstill in the Texas Panhandle to slow on light to moderate demand in Kansas, according to the Agricultural Marketing Service. Although too few to trend, there were some early FOB live sales in Kansas at $186/cwt. Prices in the Southern Plains last week were $183.
Trade in the North ranged from slow on light to moderate demand in Nebraska to moderate on moderate demand in the western Corn Belt. FOB live prices were $1.50 to $2.00 higher in Nebraska at $185-$186 and $2 higher in the western Corn belt at $185-$186. Dressed delivered prices in both regions were $290 last week.
Choice boxed beef cutout value was $1.70 higher through Thursday afternoon at $306.61/cwt. Select was $1.17 higher at $296.26/cwt.
Grain and Soybean futures closed higher Thursday with apparent technical support and perhaps positioning ahead of Friday’s monthly World Agricultural Supply and Demand Estimates.
Corn futures closed 7¢ to 9¢ higher through May ’25 and then mostly 4¢ to 6¢ higher.
KC HRW Wheat futures closed 10¢ to 18¢ higher.
Soybean futures closed 11¢ to 18¢ higher through Jan ’25 and then 6¢ to 7¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183/cwt. in the Southern Plains, $183-$184.50 in Nebraska and $183-$184 in the western Corn Belt. Dressed delivered prices were $290.
Cattle futures weakened Wednesday, as traders appeared to be waiting for cash direction.
Live Cattle futures closed an average of 46¢ lower (22¢ to $1.07 lower).
Feeder Cattle futures closed an average of 91¢ lower (70¢ to $1.30 lower).
Choice boxed beef cutout value was 12¢ higher Wednesday afternoon at $304.91/cwt. Select was 22¢ higher at $295.09/cwt.
Grain and Soybean futures were mixed Wednesday. Keep in mind the monthly World Agricultural Supply and Demand Estimates are scheduled for release this Friday.
Corn futures closed fractionally higher to 2¢ higher.
KC HRW Wheat futures closed 10¢ to 15¢ lower though Dec ’24 and then 6¢ to 7¢ lower, struggling for demand.
Soybean futures closed mostly 1¢ to 2¢ lower.
Cattle futures moved ahead Tuesday, mostly erasing losses from the previous session.
Live Cattle futures closed an average of 81¢ higher (52¢ to $1.32 higher).
Feeder Cattle futures closed an average of $1.12 higher (75¢ to $1.50 higher).
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183/cwt. in the Southern Plains, $183-$184.50 in Nebraska and $183-$184 in the western Corn Belt. Dressed delivered prices were $290.
Choice boxed beef cutout value was $1.51 lower Tuesday afternoon at $304.79/cwt. Select was 30¢ lower at $294.87/cwt.
Grain and Soybean futures softened Tuesday with likely pressure from profit taking and producer selling.
Corn futures closed mostly 3¢ to 4¢ lower.
KC HRW Wheat futures closed mostly 6¢ to 11¢ lower.
Soybean futures closed 1¢ to 6¢ lower.
Cattle futures took a breather Monday as traders appeared to await further cash direction.
Live Cattle futures closed an average of 80¢ lower (32¢ to $1.77 lower).
Feeder Cattle futures closed an average of $1.47 lower (80¢ to $2.40 lower).
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183/cwt. in the Southern Plains, $183-$184.50 in Nebraska and $183-$184 in the western Corn Belt. Dressed delivered prices were $290.
The five-area direct weighted average FOB live steer price last week was 35¢ higher at $183.30/cwt. The average dressed delivered price was $1.25 lower at $290.36.
Choice boxed beef cutout value was $1.02 higher Monday afternoon at $306.30/cwt. Select was 57¢ lower at $295.17/cwt.
Corn futures closed mostly 3¢ to 5¢ higher.
KC HRW Wheat futures closed mostly 7¢ to 10¢ higher.
Soybean futures closed mostly 4¢ to 6¢ higher.
Negotiated cash fed cattle trade ranged from slow on light demand to mostly inactive on light demand through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, FOB live prices were steady to $1 higher in the Southern Plains at $183/cwt., steady to $1.50 higher in Nebraska at $183-$184.50 and steady to $1 higher in the western Corn Belt at $183-$184. Dressed delivered prices were $2 lower in Nebraska at $290 and steady to $2 lower in the western Corn Belt at $290.
Choice boxed beef cutout value was $1.08 higher Friday afternoon at $305.28/cwt., the highest level since October. Choice was $4.67 higher week to week on Friday. Select was $1.56 higher at $295.74/cwt., up $9.43 week to week.
Total estimated cattle slaughter last week of 599,000 head was 6,000 head more than the previous week but 27,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 5.4 million head was 298,000 head less (-5.3%) than the same period last year. Year-to-date estimated beef production of 4.5 billion pounds was 194.2 million pounds less (-4.2%).
Cattle futures rebounded Friday, supported by higher wholesale beef prices and strong fundamentals.
Live Cattle futures closed an average of $1.90 higher ($1.30 to $3,10 higher), except for 30¢ higher in newly minted away-Aug. They were narrowly mixed week to week.
Feeder Cattle futures closed an average of $3.35 higher ($2.77 to $4.27 higher). They were an average of $1.40 lower week to week. Besides higher Corn futures and technical correction, some of the mid-week pressure may have stemmed from concerns about the massive Texas wildfires pushing more cattle to market.
Corn futures closed 3¢ to 5¢ lower through Dec ’14 and then 1¢ to 2¢ lower. Week to week on Friday, Corn futures closed an average of 10’5¢ higher through the front six contracts.
KC HRW Wheat futures closed mostly 14¢ to 22¢ lower.
Soybean futures closed 8¢ to 14¢ higher through Aug ’24 and then mostly 6¢ to 7¢ higher.
Cattle futures continued a downward correction Thursday.
Live Cattle futures closed an average of 60¢ lower.
Feeder Cattle futures closed an average of 93¢ lower (37¢ to $1.85 lower).
Negotiated cash fed cattle trade ranged from slow on light demand to moderate on moderate demand through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, FOB live prices are steady to $1 higher in the Southern Plains at $183/cwt., steady in Nebraska at $183 and steady to $1 higher in the western Corn Belt at $183-$184. Dressed delivered prices are $2 lower in Nebraska at $290 and steady to $2 lower in the western Corn Belt at $290.
Choice boxed beef cutout value was $1.17 higher Thursday afternoon at $304.20/cwt. Select was $1.24 higher at $294.18/cwt.
Corn futures closed mostly fractionally higher to 2¢ higher.
KC HRW Wheat futures closed 2¢ to 7¢ higher.
Soybean futures closed 1¢ to 5¢ lower.
Cattle futures softened Wednesday with pressure including likely profit taking and month-end positioning.
Live Cattle futures closed an average of $1.13 lower (80¢ to $1.60 lower).
Feeder Cattle futures closed an average of $2.80 lower ($2.12 to $3.85 lower).
Negotiated cash fed cattle trade was slow on light demand in the Southern Plains, through Wednesday afternoon, according to the Agricultural Marketing Service. FOB live prices were steady in the Texas Panhandle at $183/cwt. and steady to $1 higher in Kansas at $183.
Elsewhere, trade ranged from mostly inactive on light demand to a standstill with too few transactions to trend.
Last week, FOB live prices were $183 in Nebraska and $182-$183 in the western Corn Belt. Dressed delivered prices were $292 in Nebraska and $290-$292 in the western Corn Belt.
Slower beef packer production continued to support wholesale beef values. Choice boxed beef cutout value was $1.29 higher Wednesday afternoon at $303.03/cwt. Select was $2.54 higher at $292.94/cwt.
Turning to row crops, Corn and Soybean futures received some support from chatter about bearish weather in South America.
Corn futures closed 1¢ to 5¢ higher, with most of the support in the front contracts.
Soybean futures closed mostly 3¢ to 4¢ higher.
KC HRW Wheat futures closed 4¢ to 6¢ lower, except for 2¢ higher in spot Mar.
Cattle futures basically paddled in place Tuesday, awaiting the week’s cash direction.
Live Cattle futures closed an average of 33¢ lower.
Feeder Cattle futures closed narrowly mixed, from an average of 14¢ lower in three contracts to an average of 16¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill, with too few transactions to trend, through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183 in the Texas Panhandle, $182-$183 in Kansas, $183 in Nebraska and $182-$184 in the western Corn Belt. Dressed delivered prices were $292 in Nebraska and $290-$292 in the western Corn Belt.
Choice boxed beef cutout value was 5¢ lower Tuesday afternoon at $301.74/cwt. Select was $2.41 higher at $290.40/cwt.
Corn futures closed fractionally higher to 3¢ higher.
KC HRW Wheat futures closed mostly 8¢ to 9¢ higher.
Soybean futures closed 2¢ to 4¢ higher through near Aug and then mostly unchanged to fractionally lower.
Overall, futures traders seemed to look past the bearish placement number in Friday’s monthly Cattle on Feed report, seeming instead to focus on strong fundamentals, including last week’s higher cash fed cattle trade. However, the bounce higher in Corn futures helped dampen Feeder Cattle futures.
Live Cattle futures closed an average of 26¢ higher, except for unchanged in the back contract.
Feeder Cattle futures closed an average of $1.07 lower, (50¢ to $1.52 lower).
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $3 higher in the Texas Panhandle at $183/cwt., $2-$3 higher in Kansas at $182-$183, $2 higher in Nebraska at $183 and $2-$4 higher in the western Corn Belt at $182-$184. Dressed delivered prices in Nebraska were $5 higher at $292 and $5-$7 higher in the western Corn Belt at $290-$292.
The five-area direct weighted average FOB live steer price last week was $2.60 higher at $182.95/cwt. The average dressed delivered steer price was $5 higher at $291.61.
Choice boxed beef cutout value was $1.18 higher Monday afternoon at $301.79/cwt. Select was $1.68 higher at $287.99/cwt.
Grain futures bounced back Monday, still trying to carve a bottom.
Corn futures closed 6¢ to 8¢ higher through Jly ’25 and then 1¢ to 3¢ higher.
KC HRW Wheat futures closed 7¢ to 15¢ higher through Mar ’25 and then mostly 4¢ higher.
Soybean futures closed 1¢ to 3¢ higher through near Aug and then mostly fractionally lower to 2¢ lower.
Cattle futures renewed gains Friday, supported by stronger cash fed cattle prices and perhaps positioning ahead of the Cattle on Feed report (see below).
Live Cattle futures closed an average of $1.31 higher ($1.00 higher at the back to $2.10 higher in spot Feb). They were an average of $1.19 higher week to week on Friday.
Feeder Cattle futures closed an average of $2.16 higher, ($1.07 higher at the back to $3.07 higher toward the front. They were an average of $3.74 higher week to week.
Negotiated cash fed cattle trade ranged from light to moderate on light to moderate demand to moderate on moderate demand through Friday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $3 higher in the Texas Panhandle at $183/cwt., $2-$3 higher in Kansas at $182-$183, $2 higher in Nebraska at $183 and $4 higher in the western Corn Belt at $184. Dressed delivered prices in Nebraska were $5 higher at $292. Dressed prices in the western Corn Belt the previous week were $285.
Choice boxed beef cutout value was 82¢ higher Friday afternoon at $300.61/cwt. Select was 50¢ higher at $286.31/cwt. Week to week on Friday, Choice was $4.41 higher, while Select was 35¢ lower.
Estimated total cattle slaughter last week of 593,000 head was 15,000 head fewer than the previous week and 21,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 4.8 million head was 272,000 head fewer (-5.4%) than the same week the previous year. Year-to-date estimated beef production of 4 billion pounds was 177.4 million pounds less (-4.3%).
Grain and Soybean futures eroded further Friday with pressure including producer selling and anemic international demand.
Corn futures closed mostly 3¢ to 5¢ lower. They were an average of 12’4¢ lower through the front six contracts week to week.
KC HRW Wheat futures closed mostly 6¢ to 8¢ lower.
Soybean futures closed 9¢ to 14¢ lower in the front three contracts and then mostly 2¢ to 4¢ lower.
Cattle futures softened Thursday with likely positioning ahead of Fridays monthly Cattle on Feed report. Many expect the report to indicate a sharp decline in feedlot placement, about 12% less year over year in January, based on average analyst estimates. January marketing are estimated to be about even, while the Feb. 1 on-feed inventory is projected to be up slightly.
Live Cattle futures closed an average of 84¢ lower.
Feeder Cattle futures closed an average of $1.44 lower, except for an average of 56¢ higher in the front three contracts.
Negotiated cash fed cattle trade ranged from a standstill in the South to mostly inactive on light demand in the North, with too few transactions to trend, through Thursday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $180/cwt. in the Southern Plains, $181 in Nebraska and $180 in the western Corn Belt. Dressed delivered prices were mostly $287 in Nebraska and $285 in the western Corn Belt.
Choice boxed beef cutout value was $1.99 higher Thursday afternoon at $299.79/cwt. Select was $1.35 higher at $285.81/cwt.
Grain and Soybean futures continued searching for a bottom Thursday with apparent added pressure from recent producer selling.
Corn futures closed 4¢ to 5¢ lower through Dec. ’24 and then mostly 2¢ lower.
KC HRW Wheat futures closed mostly fractionally lower to 3¢ lower.
Soybean futures closed 10¢ to 13¢ lower through Jly ’25. and then mostly 7¢ to 8¢ lower.
Cattle futures continued to crawl mostly higher Wednesday.
Live Cattle futures closed an average of 44¢ higher, except for 42¢ lower in spot Feb.
Feeder Cattle futures closed an average of 45¢ higher, except for an average of 20¢ lower in two contracts.
Negotiated cash fed cattle trade ranged from a standstill in the South to mostly inactive on light demand in the North, with too few transactions to trend, through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $180/cwt. in the Southern Plains, $181 in Nebraska and $180 in the western Corn Belt. Dressed delivered prices were mostly $287 in Nebraska and $285 in the western Corn Belt.
Choice boxed beef cutout value was 43¢ higher Wednesday afternoon at $297.80/cwt. Select was $3.36 lower at $284.46/cwt.
Corn futures closed mostly 3¢ to 7¢ lower.
KC HRW Wheat futures closed mostly 3¢ to 4¢ lower.
Soybean futures closed 8¢ to 18¢ lower.
Cattle futures closed mostly higher Tuesday, supported by positive fundamentals.
Live Cattle futures closed average of 58¢ higher, except for an average of 30¢ lower in the front two contracts.
Feeder Cattle futures closed an average of $2.22 higher, except for 35¢ higher in spot Mar.
Negotiated cash fed cattle trade ranged from a standstill in the South to mostly inactive on light demand in the North, with too few transactions to trend, through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $180/cwt. in the Southern Plains, $181 in Nebraska and $180 in the western Corn Belt. Dressed delivered prices were mostly $287 in Nebraska and $285 in the western Corn Belt.
Choice boxed beef cutout value was 28¢ higher Tuesday afternoon at $297.37/cwt. Select was 42¢ higher at $287.82/cwt.
Apparent short covering helped lift grain futures Tuesday.
Corn futures closed 1¢ to 4¢ higher.
KC HRW Wheat futures closed 14¢ to 19¢ higher through Dec ’25.
Soybean futures closed 7¢ to 10¢ higher.
Futures and equity markets were closed Monday in observance of President’s Day.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 lower in the Southern Plains at $180/cwt., unevenly steady in Nebraska at $181 and steady to $2 lower in the western Corn Belt at $180. Dressed delivered prices were unevenly steady in Nebraska at mostly $287 and steady in the western Corn Belt at $285.
The five-area direct weighted average FOB live fed steer price last week was 80¢ lower at $180.35. The weighted average dressed delivered fed steer price was 76¢ lower at $286.61.
Choice boxed beef cutout value was 89¢ higher Monday afternoon at $297.09/cwt. Select was 74¢ higher at $287.40/cwt
Cattle futures rallied higher Friday helped along by recently stronger wholesale beef values.
Live Cattle futures closed average of $1.11 higher (65¢ to $1.95 higher).
Feeder Cattle futures closed an average of $1.67 higher (50¢ higher at the back to $3.32 higher at the front).
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to slow on light demand through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 lower in the Southern Plains at $180/cwt., steady to $2.50 lower in Nebraska at $180 and steady in the western Corn Belt at $180-$182. Dressed delivered prices were unevenly steady in Nebraska at mostly $287 and steady in the western Corn Belt at $285.
Choice boxed beef cutout value was 90¢ higher Friday afternoon at $296.20/cwt. Select was $1.33 lower at $286.66/cwt.
Total estimated cattle slaughter last week of 608,000 head was 14,000 head fewer than the previous week and 17,000 head fewer than the same week last year. Total year-to-date estimated cattle slaughter of 4.2. million head was 246,000 head fewer (-5.6%). Year-to-date estimated beef production of 3.5 billion pounds was 153.5 million pounds less (-4.2%).
Corn futures closed mostly 1¢ to 2¢ higher.
KC HRW Wheat futures closed 8¢ to 11¢ lower.
Soybean futures closed mostly 5¢ to 10¢ higher.
Cattle futures crept mostly higher Tuesday. Feeder Cattle futures closed an average of 54¢ higher, except for an average of 55¢ lower in the front two contracts. Live Cattle futures closed an average of 18¢ higher, except for an average of 8¢ lower in two contracts. Negotiated cash fed cattle trade ranged from mostly [...]
Cattle futures rallied higher Monday, bolstered by higher cash fed cattle prices at the end of last week, as well as the bullish extended outlook. Feeder Cattle futures closed an average of $2.16 higher (87¢ higher in spot Sep to $2.65 higher toward the back). Live Cattle futures closed an average of 95¢ higher [...]
Negotiated cash fed cattle trade ranged from slow on light to moderate demand to limited on light demand through Friday afternoon, according to the Agricultural Marketing Service. For the week, FOB live prices were $1 higher in the Southern Plains at $180/cwt. and steady to $1 lower in the western Corn Belt at $183-$184. [...]
Cattle futures extended gains Thursday. Feeder Cattle futures closed an average of $1.81 higher. Live Cattle futures closed an average of 77¢ higher Corn futures closed mostly fractionally lower to 1¢ lower. KC HRW Wheat closed mostly 8¢ to 12¢ lower. Soybean futures closed 12¢ to 16¢ lower through Aug ‘24 and then 7¢ [...]
Cattle futures basically tread water on Tuesday. Feeder Cattle futures closed mixed, from an average of 33¢ lower in the front three contracts to an average of 19¢ higher. Live Cattle futures closed an average of 19¢ higher, except for an average of 11¢ lower in the front two contracts. Negotiated cash fed cattle [...]
Cattle futures drifted lower Friday on pre-weekend positioning, sluggish trade and steady to softer cash fed cattle prices. Feeder Cattle futures closed an average of $1.26 lower, except for $3.30 higher in newly minted away Aug Live Cattle futures closed an average of 41¢ lower, except for $1.00 higher in new away Feb. Negotiated [...]
Live Cattle futures closed an average of 76¢ higher. Feeder Cattle futures closed an average of 88¢ higher, except for lower in expiring Aug. Live Cattle futures closed an average of 76¢ higher. Negotiated cash fed cattle prices on Thursday were mainly steady to lower than last week. Trade was slow on light to [...]
Cattle futures closed lower Wednesday with traders awaiting the week’s cash trade. Feeder Cattle futures closed an average of $1.25 lower. Live Cattle futures closed an average of $1.41 lower, from $2.20 lower in waning spot Aug to 80¢ lower at the back of the board. Negotiated cash fed cattle trade ranged from limited [...]
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service. FOB live prices last week were $178-$179/cwt. in the Texas Panhandle, $179 in Kansas, $185 in Nebraska and $182-$187 in the western Corn [...]
Cattle futures rallied higher Monday, apparently buoyed by increasing open interest and trader focus on fundamentals. Feeder Cattle futures closed an average of $2.60 higher. Live Cattle futures closed an average of 76¢ higher (2¢ to $1.12 higher). Negotiated cash fed cattle trade was slow on very light demand in the western Corn Belt [...]
Steady Corn futures prices, firmer cash fed cattle prices and the recent uptick in wholesale beef prices helped Cattle futures rise on Friday. Feeder Cattle futures closed an average of 95¢ higher (45¢ to $1.17 higher). Live Cattle futures closed an average of 69¢ higher. Negotiated cash fed cattle trade was moderate on moderate [...]
Negotiated cash fed cattle trade was slow to moderate on light to moderate demand in Nebraska through Thursday afternoon, according to the Agricultural Marketing Service. Dressed delivered prices were $2.00 to $2.50 lower at $292-$292.50/cwt. There were a few FOB live trades at $184-$186 and a few delivered live trades at $189.50, but too [...]
Although sideways, Cattle futures wobbled Wednesday as traders added risk premium back to Corn futures, which closed 9¢ to 11¢ higher through Jly ‘24 and then mostly 3¢ to 5¢ higher. KC HRW Wheat closed 12¢ to 17¢ higher. Feeder Cattle futures closed an average of 28¢ lower, except for 18¢ higher in May [...]
Cattle futures gave back most of what they gained in the previous session, amid sluggish trade and a lack of weekly cash direction. Feeder Cattle futures closed an average of $1.16 lower (88¢ to $1.43) Live Cattle futures closed an average of 93¢ lower, (53¢ to $1.25 lower). Corn futures closed 1¢ to 5¢ [...]
Cattle futures closed higher Monday, supported by the bullish Cattle on Feed report and lower Corn futures. Feeder Cattle futures closed an average of $1.84 higher. Live Cattle futures closed an average of 74¢ higher, (45¢ to $1.12 higher). There was no afternoon report from AMS for negotiated cash fed cattle trade. Based on [...]
Cattle futures finally found some traction on Friday, perhaps fueled by position squaring ahead of the monthly Cattle on Feed report, which turned out to be bullish. Feeder Cattle futures closed an average of $1.21 higher. Live Cattle futures closed an average of 53¢ higher, except for unchanged in the back contract. Packers succeeded [...]
Cattle futures continued lower Thursday with follow-through pressure from stronger Corn futures, steady to lower cash fed cattle prices, declining open interest and perhaps some defensiveness ahead of Friday’s monthly Cattle on Feed report. Feeder Cattle futures closed an average of $1.51 lower. Live Cattle futures closed an average of 72¢ lower. Negotiated cash [...]
Cattle futures continued to edge lower Wednesday, pressured by an uptick in Corn futures and steady to lower cash fed cattle prices. Feeder Cattle futures closed an average of 32¢ lower. Live Cattle futures closed an average of 35¢ lower, except for an average of 8¢ higher in two contracts. Grain futures firmed overnight [...]
Negotiated cash fed cattle trade was slow on light demand in the Western Corn Belt through Tuesday afternoon, according to the Agricultural Marketing Service. Live FOB prices were steady at $188/cwt. Dressed delivered prices last week were $295/cwt. Elsewhere, trade ranged from inactive on light demand to a standstill with too few transactions to [...]
Cattle futures closed lower Monday on lackluster trade and static to declining open interest. Feeder Cattle futures closed an average of $1.08 lower. Live Cattle futures an average of 61¢ lower. Negotiated cash fed cattle trade was at a standstill in all regions through Monday afternoon, according to the Agricultural Marketing Service. Live FOB [...]
Negotiated cash fed cattle trade was slow on light to moderate demand in Nebraska and the western Corn Belt through Friday afternoon, according to the Agricultural Marketing Service. For the week, FOB live prices were steady in both regions at $188/cwt. and dressed-delivered prices were also steady at $295. Trade in the Southern Plains [...]
Live Cattle futures an average of 81¢ higher. Negotiated cash fed cattle trade and demand ranged from slow on light to moderate demand to a standstill through Thursday afternoon, according to the Agricultural Marketing Service. Although there were too few transactions to trend in any region, there were some early FOB live trades in [...]
Weaker corn futures and an uptick in wholesale beef prices helped lift Cattle futures Wednesday. Feeder Cattle futures closed an average of 77¢ higher. Live Cattle futures an average of 39¢ higher. Negotiated cash fed cattle trade and demand ranged from inactive on very light demand to a standstill through Wednesday afternoon, according to [...]
Firmer Corn futures helped pressure Feeder Cattle futures an average of $1.10 lower Tuesday (55¢ lower at the back to $1.67 lower). Live Cattle futures narrowly mixed, unchanged to an average of 36¢ lower in the front five contracts and then an average of 49¢ higher. Negotiated cash fed cattle trade and demand were [...]
Negotiated cash fed cattle trade and demand ranged from inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service. Last week, FOB live prices were $1-$2 higher in the Southern Plains at $180/cwt. Live-delivered prices in Kansas were $184.00-$185.50. Live FOB prices were $2 higher in Nebraska [...]
Cattle futures closed higher Friday, helped along by the weekly decline in Corn futures and the hint of higher cash prices. Live Cattle futures an average of $1.40 higher (92¢ higher at the back to $2.40 higher in spot Aug). Feeder Cattle futures closed an average of $1.91 higher. Negotiated cash fed cattle demand [...]
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Thursday afternoon, according to the Agricultural Marketing Service. There were a few live FOB sales in the western Corn Belt at $188/cwt., but too few to trend. Last week, live FOB prices were $178-$179/cwt. in the Southern Plains, $186 [...]
Commodity and equity markets saw widespread selling Wednesday on the news that Fitch Ratings downgraded the long-term credit rating for United States. The lack of weekly cash fed cattle price direction and profit taking may also have pressured Cattle futures. Live Cattle futures an average of 86¢ lower (50¢ lower at the back to [...]
A surge in wholesale beef prices helped lift Live Cattle futures on Tuesday. They closed an average of $1.27 higher on strong volume (50¢ higher at the back to $2.30 higher near the front). Feeder Cattle futures closed an average of $2.22 higher ($1.65 higher at the back to $2.87 higher in spot Aug). [...]
Despite another day of lower Corn futures, Feeder Cattle futures paddle in place on Monday, closing an average of 33¢ lower, except for unchanged to an average of 12¢ higher in the front three contracts. Softer cash fed cattle prices last week and continued erosion in open interest helped cap Live Cattle, which closed [...]
Feedlots and packers continued their standoff on negotiated cash fed cattle trade, which remained largely undeveloped through Friday afternoon. Trade ranged from slow on light demand to a standstill, according to the Agricultural Marketing Service. There were a few FOB live sales in the western Corn Belt at $185-$186/cwt., but too few to trend. [...]
Negotiated cash fed cattle trade remained undeveloped through Thursday afternoon. There were a few FOB live sales in the western Corn Belt at $186/cwt., but too few to trend, according to the Agricultural Marketing Service. Last week, live prices (FOB) were $180/cwt in the Southern Plains and $188 in Nebraska and the western Corn [...]
Feeder Cattle futures closed an average of 88¢ higher Wednesday, supported by lower Corn futures. Live Cattle futures closed narrowly mixed, from an average of 16¢ lower to an average of 33¢ higher. Sharp volatility continued in grain futures, Wednesday, with traders apparently retrieving a chunk of recent risk premiums. Corn futures closed 13¢ [...]
Lower Corn futures helped Feeder Cattle futures firm Tuesday and close narrowly mixed, from an average of 15¢ lower to an average of 34¢ higher. Live Cattle futures closed an average of 75¢ lower, except for 37¢ higher in in the back contract, with pressure tied, in part, to eroding open interest. Corn futures [...]
Feeder Cattle futures took stepped lower Monday, pressured by sharply higher Corn futures and Friday's bearish Cattle on Feed report which indicated June feedlot placements were 2.7% more than the previous year and 4.6% more that the average of analyst expectations ahead of the report. Headlines of Russia bombing Ukrainian ports fueled grain and [...]
Negotiated cash fed cattle trade was slow to moderate with moderate demand in all major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service. For the week, live prices in the Texas Panhandle were $2 higher (compared to two weeks earlier) at $180/cwt. Live prices in Kansas were unevenly steady at [...]
Cattle futures strengthened during much of Thursday’s session but closed lower, perhaps with some defensiveness ahead of Friday’s Cattle on Feed report, as well as the Semiannual Cattle report. So far, these reversals have represented a breather rather than a top. Live Cattle futures closed an average of 74¢ lower (35¢ to $1.05 lower). [...]
Traders continued to add risk premium to grain and Soybean futures Wednesday. Corn futures closed mostly 9¢ to 18¢ higher. KC HRW Wheat closed 31¢ to 41¢ higher. Soybean futures closed mostly 12¢ to 14¢ higher. Higher Corn futures weighed on Feeder Cattle, which closed an average of 61¢ lower (27¢ to $1.20 lower), [...]
Stronger fed cattle prices last week and increasing fundamental strength helped lift Live Cattle futures an average of 83¢ higher on Tuesday (30¢ higher near the back to $1.30 higher toward the front). However, Feeder Cattle futures closed an average of $1.13 lower, pressured by a bounce in Corn futures. Grain and Soybean futures [...]
Cash strength and weaker Corn futures helped lift Feeder Cattle futures Monday. Feeder Cattle futures closed an average of $1.80 higher. Live Cattle futures closed narrowly mixed, from an average of 18¢ lower in three contracts to an average of 34¢ higher (7¢ to 75¢ higher). Apparently, the trade wasn’t buying reports of Russia [...]
Negotiated cash fed cattle trade was slow on light to moderate demand in Nebraska and the western Corn Belt through Friday afternoon, according to the Agricultural Marketing Service. Live prices in the western Corn Belt were $183-$186/cwt., which was $1-$2 higher than the previous week when dressed prices were $290. Although too few to [...]
Traders seemed to reconsider their initial reaction to Wednesday’s WASDE, fueling gains in Corn and Soybeans. The looming deadline to extend the Black Sea Grain initiative may have added support. Corn futures closed mostly 12¢ to 16¢ higher. Soybean futures closed mostly 29¢ to 43¢ higher. KC HRW Wheat closed 2¢ to 5¢ higher. [...]
Although USDA's Economic Research Service (ERS) surprised some by making yield adjustments in the latest World Agricultural Supply and Demand Estimates — those usually come later in the growing season — Corn futures fell with higher estimated ending stocks. Corn futures closed 12¢ to 22¢ lower through Sep ‘24 and then mostly 7¢ to [...]
Cattle futures continued to churn higher Tuesday. Feeder Cattle futures closed an average of 97¢ higher. Live Cattle futures closed an average of 94¢ higher (40¢ to $1.77 higher). Corn and Soybean futures closed higher on likely positioning ahead of Wednesday’s World Agricultural Supply and Demand Estimates. Corn futures closed 1¢ to 3¢ higher. [...]
Stellar cash demand for calves and feeder cattle, along with steady to stronger cash fed cattle prices last week helped Cattle futures extend gains Monday. Feeder Cattle futures closed an average of 65¢ higher (10¢ higher at the back to $1.00 higher). Live Cattle futures closed an average of 40¢ higher. Negotiated cash fed [...]
Lower Corn futures and producer leverage demonstrated by the week’s cash fed cattle trade helped push Cattle futures higher on Friday. Feeder Cattle futures closed an average of $2.58 higher ($1.80 at the back to $3.27 higher toward the front). Live Cattle futures closed an average of $1.13 higher (42¢ higher near the back [...]
Feeder Cattle futures continued to adjust lower, down an average of $2.32 amid a bounce in Corn futures. Live Cattle futures closed an average of 39¢ lower with apparent pressure from sliding seasonal wholesale beef values. Corn futures bounced back Thursday with a gloomier weather outlook. They closed 12¢ to 18¢ higher through Jly [...]
Cattle futures showed signs of modest correction Wednesday as traders await direction from the week’s cash market. Feeder Cattle futures closed an average of $2.79 lower ($2.17 to $3.25 lower). Live Cattle futures closed an average of $1.14 lower (72¢ to $1.87 lower). Negotiated cash fed cattle trade ranged from mostly inactive with very [...]
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service. Last week, live prices were $1 lower in the Texas Panhandle at $179/cwt., $2 lower in Kansas at $178, steady in Nebraska at $182-$185 and $2-$4 lower in the western Corn belt at $180-$183. Dressed prices [...]
Cattle futures climbed Friday as Corn futures slid on the bearish Acreage report (see below). Feeder Cattle futures closed an average of $4.03 higher ($3.15 to $5.20 higher). Live Cattle futures closed an average of $1.51 higher (65¢ higher at the back to $2.67 higher in new spot Aug). Week to week on Friday, [...]
Cattle futures continued to gain Thursday on Corn weakness. Feeder Cattle futures closed an average of $1.41 higher (90¢ to $2.12 higher). Live Cattle futures closed an average of 43¢ higher. Corn futures closed 6¢ to 9¢ lower. Soybean futures closed mostly fractionally lower to 4¢ lower, except for gains in the front four [...]
Feeder Cattle futures maintained upward momentum as Corn futures continued to decline. Feeder Cattle futures closed an average of $1.32 higher. Live Cattle futures closed an average of 75¢ higher through Feb ‘24 (32¢ to $1.37 higher) and then unchanged to an average of 48¢ lower. Negotiated cash fed cattle trade ranged from mostly [...]
Cattle futures rallied Tuesday, buoyed by declining Corn futures. Feeder Cattle futures closed an average of $4.02 higher. Live Cattle futures closed an average of $1.55 higher ($1.22 to $2.05 higher). Corn futures took a sharp step lower, pressured by more rain forecast in the Corn Belt and despite deteriorating crop conditions displayed in [...]
Although Friday’s Cattle on Feed report seemed to bring pressure early in the session, the reaction faded quickly as the day progressed in Cattle futures amid light trade. Feeder Cattle futures closed an average of 61¢ higher, except for an average of 17¢ lower in the front three contracts. Live Cattle futures closed narrowly [...]
Weather forecasts continued to whipsaw grain markets on Friday with Corn and Soybean futures closing sharply lower on the wet weekend outlook for the Corn Belt, as well as overbought conditions. Corn futures closed mostly 22¢ to 32¢ lower. Soybean futures closed 18¢ to 29¢ lower through Jly ‘24 (except for 6¢ and 14¢ [...]
Cattle futures found some traction Thursday with a let up in Corn futures and perhaps some short covering. Live Cattle futures closed an average of $1.24 higher (40¢ to $1.72 higher). Feeder Cattle futures closed an average of $3.07 higher ($2.55 to $3.45 higher). Corn and Soybean futures took a breather Thursday from the [...]
Corn and Soybean futures bounced sharply higher Wednesday, fueled by the eroding crop conditions revealed in the weekly Crop Progress report and spawned by intensifying drought in the Corn Belt. Corn futures closed mostly 20¢ to 31¢ higher through Sep ‘24 and then mostly 10¢ to 18¢ higher. Soybean futures closed 23¢ to 37¢ [...]
Cattle futures started the trading week lower with pressure from last week’s weaker fed cattle prices, increasing feed costs, lower wholesale beef values and bearish outside markets. Live Cattle futures closed an average of $1.49 lower ($1.02 to $2.02 lower). Feeder Cattle futures closed an average of $2.25 lower ($1.47 to $2.77 lower). Negotiated [...]
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service. Last week, live prices were $3-$4 lower in the Southern Plains at $182/cwt., $2-$5 lower in Nebraska at $185-$189 and $2-$4 lower in the western Corn Belt at $186-$188. Dressed [...]
Cattle futures continued to bounce back Friday with another day of higher wholesale beef values and perhaps some positioning ahead of the long weekend. Live Cattle futures closed an average of $1.26 higher. They were an average of 92¢ higher week to week. Feeder Cattle futures closed an average of 71¢ higher (42¢ to [...]
Live Cattle futures edged higher Thursday, supported by higher wholesale beef values. Live Cattle closed an average of 25¢ higher, except for 10¢ lower in the back contract. Negotiated cash fed cattle trade ranged from slow with light to moderate demand in the North to mostly inactive with very light demand in the South [...]
Cattle futures closed sharply lower Wednesday, apparently driven by fund selling and likely pressure from outside markets. Live Cattle futures closed an average of $2.53 lower ($1.97 to $2.95 lower). Feeder Cattle futures closed an average of $4.35 lower. Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through [...]
Cattle futures faded pressure early in Tuesday’s session to closer higher. Live Cattle futures closed an average of 70¢ higher (35¢ to $1.02 higher), except for 10¢ lower in the back contract. Feeder Cattle futures closed an average of $1.12 higher. Negotiated cash fed cattle trade ranged from mostly inactive on very light demand [...]
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service. Last week, Live prices were $5-$10 higher in the Texas Panhandle at $185/cwt., $6-$8 higher in Kansas at $186, steady to $9 higher in Nebraska at $189-$192 and $3-$5 higher [...]
Negotiated cash fed cattle trade was moderate with good demand in Kansas through Friday afternoon with prices $6-$8 higher at $186/cwt., according to the Agricultural Marketing Service. Live trade in Nebraska was slow on light demand. Live prices were $1-$2 lower than Wednesday at $189, but steady to $8 higher for the week at [...]
There was no afternoon negotiated cash fed cattle trade summary from AMS at press time but it sounded like feedlots in the Southern Plains were holding out for more money. In the North, through Wednesday, dressed sales in Nebraska were $8-$15 higher at $300/cwt. and live sales in the western Corn Belt were $3-$5 [...]
Negotiated cash fed cattle prices continued higher Wednesday. Dressed sales in Nebraska were $8-$15 higher at $300/cwt. on light trade and good demand. There were some early live sales at $188-$194, but too few to trend, according to the Agricultural Marketing Service. Live prices there last week were $183-$189. Live sales in the western [...]
Negotiated cash fed cattle prices stepped $3-$5 higher in the western Corn Belt Tuesday at $190/cwt. according to the Agricultural Marketing Service. Trade was slow on light to moderate demand. Dressed prices there last week were $288-$292. There were a few early sales in Nebraska through Tuesday afternoon at $190 on a live basis [...]
Cattle futures continued higher Monday, helped along by surging wholesale beef prices and softer Corn futures.
Live Cattle futures closed an average of 47¢ higher.
Feeder Cattle futures closed an average of 68¢ higher.
Corn futures softened a touch Monday, following the previous session’s strong gains, perhaps pressured in part by rain forecast in the Corn Belt.
Corn futures closed mostly 2¢ to 4¢ lower.
KC HRW Wheat closed 4¢ to 10¢ higher.
Soybean futures closed mostly 2¢ to 5¢ lower.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $175-$180/cwt. in the Texas Panhandle, $178-$180 in Kansas, $183-$189 in Nebraska and $185-$187 in the western Corn Belt. Dressed prices were $285-$292 in Nebraska and $288-$292 in the western Corn Belt.
Choice boxed beef cutout value was $4.26 higher Monday afternoon at $314.19/cwt. Select was $5.80 higher at $296.73/cwt.
Negotiated cash fed cattle trade ranged from slow with moderate demand to mostly inactive on light demand through Friday afternoon with too few transactions to trend, according to the Agricultural marketing Service. For the week, live prices were $5-$9 higher in the Texas Panhandle at $175-$180/cwt., $7-$9 higher in Kansas at $178-$180, $3-$6 higher [...]
Negotiated cash fed cattle prices roared higher Thursday.
Trade in the Southern Plains was active with very good demand. Live prices were $5-$9 higher in the Texas Panhandle at $175-$180/cwt. and $7-$9 higher in Kansas at $178-$180.
Elsewhere, trade was moderate with very good demand. Live prices were $3-$6 higher in Nebraska at $183-$188 and $3-$5 higher in the western Corn Belt $185-$187. Dressed prices in Nebraska were $5-$6 higher at $285-$292. Last week, dressed prices in the western Corn Belt were $285.
Choice boxed beef cutout value was 60¢ higher Thursday afternoon at $306.44/cwt. Select was 83¢ lower at $286.32/cwt.
The extraordinary ascent of cash fed cattle prices fueled another bounce in Cattle futures.
Live Cattle futures closed an average of $3.65 higher ($2.25 higher at the back to $5.77 higher in spot Jun).
Feeder Cattle futures closed an average of $3.38 higher ($2.47 to $4.20 higher).
Traders appeared to add weather premium to markets Thursday.
Corn futures closed mostly 5¢ to 8¢ higher.
KC HRW Wheat closed 12¢ to 19¢ higher.
Soybean futures closed 18¢ to 29¢ higher though May ‘24 and then mostly 11¢ to 18¢ higher.
Another day of weaker Corn futures and the outlook for steady to stronger cash fed cattle prices this week helped Cattle futures extend gains Wednesday.
Feeder Cattle futures closed an average of $1.46 higher.
Live Cattle futures closed an average of 63¢ higher (25¢ higher in the spot month to $1.10 higher).
Expectations of record production in Brazil helped pressure Corn futures Wednesday.
Corn futures closed mostly 1¢ to 3¢ lower.
KC HRW Wheat closed 2¢ to 6¢ higher in the front three contracts and then mostly 1¢ to 2¢ lower.
Soybean futures closed mostly 6¢ to 16¢ lower.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service
Last week, live prices were $170-$171/cwt. in the Texas Panhandle, $171 in Kansas, $180-$182 in Nebraska and $182 in the western Corn Belt. Dressed prices were $280-$286 in Nebraska and $285 in the western Corn Belt.
Choice boxed beef cutout value was 88¢ higher Wednesday afternoon at $305.84/cwt. Select was 62¢ lower at $287.77/cwt.
Last week’s strong cash fed cattle prices, recent higher wholesale beef prices and Tuesday’s break in Corn futures helped propel Cattle futures higher.
Feeder Cattle futures closed an average of $3.24 higher.
Live Cattle futures closed an average of $1.53 higher.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $170-$171/cwt. in the Texas Panhandle, $171 in Kansas, $180-$182 in Nebraska and $182 the western Corn Belt Dressed. prices were $280-$286 in Nebraska and $285 in the western Corn Belt.
The weighted average five-area direct fed steer price last week was $2.79 higher at $177.94/cwt. The average fed steer price in the beef was $4.02 higher at $284.36.
Choice boxed beef cutout value was $1.03 higher Tuesday afternoon at $304.96/cwt. Select was $2.85 higher at $287.77/cwt.
Grain and Soybean futures closed sharply lower Tuesday as traders appeared to take back weather premium, as well as profits from last week’s rally.
Corn futures closed mostly 6¢ to 10¢ lower.
KC HRW Wheat closed 22¢ to 35¢ lower in the front five contracts and then 8¢ to 12¢ lower.
Soybean futures closed 30¢ to 41¢ lower through Aug ’24 and then 21¢ to 26¢ lower.
Live Cattle futures continued to grind higher, closing an average of 49¢ higher (5¢ higher at the front to 92¢ higher at the back), supported by stronger cash prices and wholesale beef values.
Feeder Cattle futures closed an average of 75¢ lower in light trade, pressured by the bounce higher in Corn futures.
Grain and Soybean futures closed higher Friday as traders appeared to add weather premium with the dry, hot outlook in the Corn Belt for the next couple of weeks.
Corn futures closed mostly 10¢ to 18¢ higher.
KC HRW Wheat closed 1¢ to 5¢ higher in the front five contracts and then 13¢ to 15¢ higher.
Soybean futures closed 10¢ to 17¢ higher.
Negotiated cash fed cattle trade ranged from inactive on light demand to limited on light demand through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, live prices are $1 higher in the Southern Plains at $171/cwt., $2-$4 higher in Nebraska at $180-$182 and $4-$5 higher in the western Corn Belt at $182. Dressed prices are $4-$5 higher in Nebraska at $285-$286 and $3-$5 higher in the western Corn Belt at $285.
Choice boxed beef cutout value was $1.64 higher Thursday afternoon at $299.94/cwt. Select was 75¢ higher at $284.54/cwt.
Cattle futures continued to edge higher Thursday, supported by the week’s stronger cash prices.
Feeder Cattle futures closed an average of 25¢ higher, except for unchanged at either end of the board.
Live Cattle futures closed an average of 51¢ higher (25¢ to $1.20 higher in spot Jun).
Corn futures closed mostly 2¢ to 4¢ lower Thursday with likely profit taking and positioning ahead of the long weekend.
KC HRW Wheat closed mostly unchanged to 5¢ higher.
Soybean futures closed mostly 9¢ to 12¢ lower.
Negotiated cash fed cattle trade was slow to moderate on moderate demand in the Southern Plains through Wednesday afternoon, according to the Agricultural Marketing Service. Prices were $1 higher at $171/cwt.
In Nebraska, trade was slow to moderate with moderate to good demand. Live prices were $2-$4 higher at $180-$182 and dressed prices were $4-$5 higher at $285-$286.
Although too few to trend, there were some live sales in the western Corn Belt at $180-$182 on slow trade with light to moderate demand. Live prices there last week were $177-$178 on a live basis; $280-$282 in the beef.
Cattle futures blossomed with the higher cash fed cattle prices.
Feeder Cattle futures closed an average of $1.33 higher, (87¢ to $2.17 higher).
Live Cattle futures closed an average of $1.04 higher (60¢ to $1.82 higher).
Choice boxed beef cutout value was $2.44 lower Wednesday afternoon at $298.30/cwt. Select was $2.51 higher at $283.79/cwt.
Corn futures closed mostly fractionally higher to 3¢ higher.
KC HRW Wheat closed mostly 15¢ to 29¢ lower.
Soybean futures closed mostly 2¢ to 4¢ lower.
Cattle futures traded mixed Monday, holding their own in the face of higher grain futures.
Feeder Cattle futures closed an average of 36¢ higher, except for an average of 15¢ lower in two contracts.
Live Cattle futures closed mixed, from an average of 38¢ lower (10¢ to 70¢ lower) through Feb and then unchanged to an average of 10¢ higher.
Grain and Soybean futures bounced back some Monday with apparent technical resistance to the downside and perhaps some weather premium with the drier, hotter near-term outlook in parts of the Corn Belt.
Corn futures closed mostly 7¢ to 8¢ higher.
KC HRW Wheat closed fractionally higher to 3¢ higher.
Soybean futures closed mostly 15¢ to 21¢ higher.
Negotiated cash fed cattle trade was at a standstill in all regions through Monday afternoon, according to the Agricultural Marketing Service.
For the week, live prices were steady in the Southern Plains at $170/cwt., $2 higher in Nebraska at $178 and steady to $3 higher in the western Corn Belt at $177-$178. Dressed prices were steady to $2 higher at $280-$282.
The five-area direct weighted average fed steer price was $1.02 higher last week at $175.15/cwt. The weighted average fed steer price in the beef was $1.36 higher at $280.84.
Choice boxed beef cutout value was $2.80 higher Monday afternoon at $303.90/cwt. Select was 51¢ lower at $283.43/cwt.
Negotiated cash fed cattle trade was mostly slow on light to moderate demand through Friday afternoon, according to the Agricultural Marketing Service.
For the week, live prices were steady in the Southern Plains at $170/cwt., $2 higher in Nebraska at $178 and $1-$3 higher in the western Corn Belt at $178. Dressed prices in Nebraska were steady to $2 higher at $280-$282.
Stronger cash fed cattle prices in the North, coupled with erosion in Corn futures helped lift Cattle futures again on Friday.
Feeder Cattle futures closed an average of 64¢ higher (17¢ to 77¢ higher).
Live Cattle futures closed an average of 49¢ higher.
Choice boxed beef cutout value was $2.79 higher Friday afternoon at $301.10/cwt. Select was 33¢ higher at $283.94/cwt.
Estimated total cattle slaughter last week of 642,000 head was 4,000 head fewer than the previous week and 15,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 12.6 million head was 423,000 head fewer (-3.3%) than a year earlier. Estimated year-to-date beef production of 10.3 billion pounds was 513.6 million pounds less (-4.7%).
Cattle futures stepped higher Thursday, supported by recently lower Corn futures, bullish cash strength for feeder cattle, cattle feeders’ resolve to hold the line on fed cattle prices and perhaps some positioning ahead of Friday’s Cattle on Feed report.
Feeder Cattle futures closed an average of $2.83 higher ($1.55 to $3.35 higher).
Live Cattle futures closed an average of 78¢ higher.
Bearish sentiment continued in the grain complex.
Corn futures closed mostly 1¢ higher.
KC HRW Wheat closed mostly 18¢ to 28¢ lower.
Soybean futures closed mostly 1¢ to 3¢ lower.
Negotiated cash fed cattle trade was slow on light demand in the Texas Panhandle through Thursday afternoon, according to the Agricultural Marketing Service. Prices were steady at $177/cwt.
Elsewhere, trade was limited on light demand. Although too few to trend, there were some live trades in the western Corn Belt at $178.
Last week, live prices were $170/cwt. in Kansas, mostly $176 in Nebraska and $175-$177 in the western Corn Belt. Dressed prices were $280.
Choice boxed beef cutout value was 16¢ higher Thursday afternoon at $298.31/cwt. Select was 16¢ higher at $283.61/cwt.
Cattle futures closed mostly lower Wednesday, apparently with spillover pressure from apparent long liquidation in grain futures.
Feeder Cattle futures closed an average of 88¢ lower (32¢ to $1.15 lower).
Live Cattle futures closed an average of 27¢ lower, except for an average of 58¢ higher in the front three contracts.
Negotiated cash fed cattle trade was limited on light to moderate demand in all regions through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were $170/cwt. in the Southern Plains, mostly $176 in Nebraska and $175-$177 in the western Corn Belt. Dressed prices were $280.
Choice boxed beef cutout value was $1.32 lower Wednesday afternoon at $298.15/cwt. Select was $1.46 lower at $282.89/cwt.
Grain and Soybean futures tumbled Wednesday. At least from a psychologic perspective, widespread selling appeared to be tied to the U.N. Secretary General’s announcement that Russia agreed to extend the Black Sea Grain initiative for another 60 days (see below). As well, private exporters reported the cancellation of sales of 272,000 metric tons of corn for delivery to China during the 2022/2023 marketing year.
Corn futures closed mostly 5¢ to 9¢ lower.
KC HRW Wheat closed mostly 12¢ to 20¢ lower.
Soybean futures closed mostly 15¢ to 19¢ lower.
Feeder Cattle futures closed an average of 35¢ higher, except for 80¢ and 72¢ lower at either end of the board, supported by continued erosion in Corn futures.
Live Cattle futures closed an average of 25¢ lower, awaiting cash direction.
Wheat futures closed mostly 1¢ to 4¢ lower Tuesday with likely profit taking.
Corn futures closed 9¢ to 11¢ lower through Jly ‘24, and then mostly 7¢ lower.
Soybean futures closed mostly 19¢ to 36¢ lower.
Negotiated cash fed cattle trade was at a standstill in all regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $170/cwt. in the Southern Plains, mostly $176 in Nebraska and $175-$177 in the western Corn Belt. Dressed prices were $280.
Choice boxed beef cutout value was $2.51 lower Tuesday afternoon at $299.47/cwt. Select was 36¢ lower at $284.35/cwt.
Cattle futures, especially Feeder Cattle, extended gains Monday, closing an average of $1.34 higher (67¢ to $2.07 higher).
Live Cattle futures closed an average of 66¢ higher, except 7¢ lower in spot Jun.
That was with Corn futures closing 5¢ to 7¢ higher through Jly ‘24, on the coattails of Wheat futures (KC HRW), which closed 21¢ to 27¢ higher through May ‘24, fueled by follow-through support from the World Agricultural Supply and Demand Estimates, along with concerns about the Black Sea Initiative.
Soybean futures closed 5¢ to 10¢ higher through Jly ‘24.
Negotiated cash fed cattle trade was inactive on light demand in all regions through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were $2 lower in the Southern Plains at $170/cwt., mostly steady to $2 lower in Nebraska at mainly $176 and $1 lower to $3 higher in the western Corn belt at $175-$177. Dressed prices were $1 lower in Nebraska at $280 and steady to $5 lower in the western Corn Belt at $280.
The weighted average five-area direct fed steer price was 20¢ higher on a live basis last week at $174.13/cwt. but $1.46 lower in the beef at $279.48.
Choice boxed beef cutout value was $2.63 lower Monday afternoon at $301.98/cwt. Select was 3¢ higher at $284.71/cwt.
Cattle futures closed higher Friday, supported by lower corn prices suggested by the monthly World Agricultural Supply Demand Estimates.
Feeder Cattle futures closed an average of $2.20 higher on Friday and an average of $6.53 higher week to week ($2.95 to $8.20 higher).
Live Cattle futures closed an average of $1.02 higher ($1.65 higher toward the front to 12¢ higher at the back). They were an average of $2.27 higher week to week on Friday ($1.82 higher at the back to $2.95 higher toward the front).
Negotiated cash fed cattle trade was limited on light to moderate demand in all regions through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, live prices were $2 lower in the Southern Plains at $170/cwt., mostly steady to $2 lower in Nebraska at mainly $176 and $1 lower to $3 higher in the western Corn belt at $175-$177. Dressed prices were $1 lower in Nebraska at $280 and steady to $5 lower in the western Corn Belt at $280.
Estimated cattle slaughter last week of 646,000 head was 23,000 head more than the previous week but 15,000 head fewer than the same week last year. Year-to-date estimated cattle slaughter of 11.9 million head was 386,000 head fewer (-3.1%). Estimated year-to-date beef production of 9.8 billion pounds was 483.8 million pounds less (-4.7%).
Choice boxed beef cutout value was $1.11 lower Friday afternoon at $304.61/cwt. Select was 10¢ higher at $284.68/cwt.
USDA’s Economic Research Service increased forecast fed steer prices (five-area direct) higher for the remainder of this year, in the latest monthly World Agricultural Supply and Demand Estimates (WASDE). Prices were projected $3 higher in the second quarter at $172/cwt., and $2 higher in the third and fourth quarters at $164 and $169, respectively. The annual average price estimate increased $2 to $166.50.
“The 2023 cattle price forecast is raised on recent data and tighter supplies expected later in the year,” ERS analysts say. “For 2024, cattle prices are forecast above 2023 on tighter supplies.”
Estimated beef production this year would be 1.4 million pounds less than last year (-4.8%).
Negotiated cash fed cattle trade ranged inactive on light demand in the Southern Plains to moderate on moderate demand in the North through Thursday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early sales in Nebraska at $175-$176/cwt. on a live basis and $280 in the beef, and at $176-$177 and $280 in the western Corn Belt.
On Wednesday, live trade in the Southern Plains was $2 lower at $170.
Last week, live prices were $176-$178 in Nebraska and $172-$178 in the western Corn Belt. Dressed prices were $281 in Nebraska and $280-$285 in the western Corn Belt.
The five-area direct monthly weighted average price for fed steers in April was $177.09/cwt., on a live basis, which was $35.43 (+25.0%) than a year earlier. The weighted average fed steer price in the beef was $285.28, which was $56.42 more (+24.6%) year over year.
Choice boxed beef cutout value was $1.15 lower Thursday afternoon at $305.72/cwt. Select was 4¢ higher at $284.58/cwt.
Net U.S. beef export sales (2023) for the week ending May 4 were 16,600 metric tons. That was 18% less than the previous week, but 16% more than the prior four-week average, according to the weekly U.S. Export Sales report. Increases were primarily for South Korea, Japan, Canada, Mexico and Taiwan.
Cattle futures were Mixed Thursday with Feeder Cattle benefitting from lower Corn futures and Live Cattle stalling with the weaker cash outlook for the week.
Feeder Cattle futures closed an average of 86¢ higher except for $1.25 lower in spot May.
Live Cattle futures closed an average of 31¢ lower (5¢ to 82¢ lower) except for 12¢ higher in Away Aug.
Grain and soybean futures continued under pressure Thursday from the fast pace of domestic planting to positioning ahead of Friday’s monthly World Agricultural Supply and Demand Estimates.
Corn futures closed mostly 5¢ to 7¢ lower.
KC HRW Wheat closed mostly 12¢ to 13¢ lower.
Soybean futures closed mixed, mostly fractionally higher to 4¢ lower.
Cattle futures gave back some of the previous sessions gains on Wednesday amid likely profit taking and uncertainty about this week’s cash fed cattle direction.
Feeder Cattle futures closed an average of 91¢ lower except for 25¢ higher in the back contract.
Live Cattle futures closed an average of 42¢ lower except for 27¢ higher in the back contract.
Corn futures firmed Wednesday with likely short covering, while Wheat and Soybean futures eroded as traders position ahead of Friday’s World Agricultural Supply and Demand Estimates.
Corn futures closed mostly fractionally higher to 3¢ higher.
KC HRW Wheat closed mostly 1¢ to 10¢ lower.
Soybean futures closed 7¢ to 15¢ lower through Sep ‘23 and then mostly 1¢ to 3¢ lower.
Negotiated cash fed cattle trade was limited on light demand in all regions through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early live sales in the Southern Plains at $170/cwt.
Last week, live prices were $172/cwt. in the Southern Plains, $176-$178 in Nebraska and $172-$178 in the western Corn Belt. Dressed prices were $281 in Nebraska and $280-$285 in the western Corn Belt.
Choice boxed beef cutout value was 51¢ lower Wednesday afternoon at $306.87/cwt. Select was 35¢ lower at $284.54/cwt.
Sharply lower Corn futures helped Cattle futures regain more lost ground on Tuesday.
Feeder Cattle futures closed an average of $2.94 higher.
Live Cattle futures closed an average of $1.20 higher.
Corn and Soybean futures weakened Tuesday, with pressure from the fast domestic planting pace and renewed hopes for renewal of the Black Sea Initiative. Corn received added pressure from China’s cancellation of sales of 272,000 metric tons.
Corn futures closed 9¢ to 14¢ lower through Jly ‘24, and then mostly 3¢ to 5¢ lower.
Soybean futures closed 13¢ to 18¢ lower through May ‘24 and then 9¢ to 11¢ lower.
KC HRW Wheat closed 1¢ to 15¢ higher through May ‘24 and then 1¢ to 5¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were $172/cwt. in the Southern Plains, $176-$178 in Nebraska and $172-$178 in the western Corn Belt. Dressed prices were $281 in Nebraska and $280-$285 in the western Corn Belt.
Choice boxed beef cutout value was $1.18 lower Tuesday afternoon at $307.38/cwt. Select was 23¢ lower at $284.89/cwt.
Cattle futures rebounded some Monday, especially Feeder Cattle, supported by lower new-crop Corn futures and overall positive fundamentals.
Feeder Cattle futures closed an average of $1.55 higher (90¢ higher in spot May to $2.02 higher at the back).
Live Cattle futures closed an average of 67¢ higher.
There was no Monday negotiated cash fed trade summary from USDA available at press time.
The weighted average five-area direct fed steer price last week was $3.22 lower on a live basis at $173.93/cwt. The average steer price in the beef was $3.11 lower at $280.94.
Choice boxed beef cutout value was 63¢ lower Monday afternoon at $308.56/cwt. Select was $3.04 lower at $285.12/cwt.
Corn futures closed 4¢ to 6¢ lower after old-crop contracts, perhaps pressured in part by rapid planting progress.
KC HRW Wheat closed 9¢ to 11¢ higher through Dec ‘23 and then 2¢ to 6¢ higher.
Soybean futures closed mostly 4¢ to 8¢ lower through Mar ‘25.
Cattle futures mostly softened Friday, unable to shake off the week’s lower cash fed cattle prices and growing concerns about domestic and global economic growth.
Feeder Cattle futures closed an average of 84¢ lower (15¢ to $1.72 lower). They were an average of $7.34 lower week to week on Friday. The CME Feeder Cattle Index was $3.74 lower week to week on Thursday at $199.46.
Live Cattle futures closed an average of 17¢ lower, except for an average of 21¢ higher in the front two contracts. They were an average of $3.38 lower week to week on Friday.
Negotiated cash fed cattle trade was mostly inactive on light demand in all regions through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, live prices were $1 lower in the Southern Plains at $172/cwt., $2 lower in Nebraska at $176 and $2-$8 lower in the western Corn Belt at $172-$178. Dressed prices were $2-$5 lower in Nebraska at $281. The previous week, dressed prices were $285 in the western Corn Belt.
Choice boxed beef cutout value was 33¢ lower Friday afternoon at $309.19/cwt. Select was 67¢ higher at $288.16/cwt.
Estimated total cattle slaughter for the week was 623,000 head, which was 1,000 head less than the previous week and 38,000 head less than a year earlier. Year-to-date estimated total cattle slaughter of 11.3 million head was 384,000 head fewer (-3.3%). Year-to-date estimate beef production of 9.3 billion pounds was 477.6 million pounds less (-4.9%) than the same time last year.
Grain and Soybean futures continued higher Friday, led by wheat, with more support from worries about renewal of the Black Sea Initiative.
KC HRW Wheat closed mostly 26¢ to 34¢ higher through May ‘24 and then 16¢ to 21¢ higher.
Corn futures closed mostly 3¢ to 7¢ higher.
Soybean futures closed 10¢ to 18¢ higher through Jan ‘24 and then 5¢ to 8¢ higher through Mar ’25.
Cattle futures firmed Thursday, albeit narrowly mixed, amid negative outside markets, tied to banking and the week’s lower cash fed cattle prices.
Feeder Cattle futures closed an average of 30¢ higher, except for an average of 22¢ lower in two nearby contracts.
Live Cattle futures closed narrowly mixed, from an average of 12¢ lower in the front three contracts to an average of 22¢ higher.
Negotiated cash fed cattle trade was limited on light demand in all regions through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
So far this week, live prices are $1 lower in the Southern Plains at $172/cwt., $2 lower in Nebraska at $176 and $2-$8 lower in the western Corn Belt at $172-$178. Dressed prices are $2-$5 lower in Nebraska at $281.
Choice boxed beef cutout value was 43¢ higher Thursday afternoon at $309.52/cwt. Select was 37¢ higher at $287.49/cwt.
Net U.S. beef export sales were 20,100 metric tons the week ending April 27, according to the weekly U.S. Export Sales report. That was up noticeably from the previous week and 59% more than the prior four-week average. Increases primarily were for, Japan South Korea, China Taiwan and Mexico.
Wheat futures (KCH) continued higher Thursday — up mostly 12¢ to 14¢ — with follow-through support from worries about renewal of the Black Sea Initiative.
Corn and Soybean futures eased lower on likely profit taking from the previous session’s strong gains and perhaps some positioning ahead of the weekly U.S. Export Sales report.
Corn futures closed mostly 2¢ to 3¢ lower.
Soybean futures closed mostly 3¢ to 6¢ lower.
Declining open interest, negative outside markets, technical selling and weaker cash fed cattle prices pressured Cattle futures sharply lower for a second consecutive session Wednesday.
Feeder Cattle futures closed an average of $2.21 lower ($3.75 to $4.08 lower).
Live Cattle futures closed an average of $1.04 lower (60¢ to $1.40 lower).
Negotiated cash fed cattle trade ranged from slow on light demand in Nebraska to limited on light demand on other regions through Wednesday afternoon, according to the Agricultural Marketing Service.
So far this week, live prices are $1 lower in the Southern Plains at $172/cwt., $2 lower in Nebraska at $176 and $2-$8 lower in the western Corn Belt at $172-$178. Dressed prices are $2-$5 lower in Nebraska at $281.
Choice boxed beef cutout value was 15¢ lower at $309.09/cwt. Select was $1.54 lower at $287.12/cwt.
On the other side of the coin, grain and Soybean futures plowed higher Wednesday, led by Wheat and fueled by news of an attempted assassination of Russia’s Putin and what that could mean to the Black Sea Initiative.
Corn futures closed mostly 5¢ to 10¢ higher.
KC HRW Wheat closed 25¢ to 56¢ higher.
Soybean futures closed 5¢ to 8¢ higher through Jan’24. And then mostly 7¢ to 12¢ higher.
Cattle futures crumbled Tuesday with early cash trade taking another step lower, the packers seeming ability to pull dollars off the market by restricting kills and question marks about a seasonal peak for wholesale beef prices.
Feeder Cattle futures closed an average of $3.90 lower ($3.75 to $4.08 lower).
Live Cattle futures closed an average of $1.76 lower ($1.75 to $1.97 lower).
Negotiated cash fed cattle trade was moderate on moderate demand in the Southern Plains through Tuesday afternoon, according to the agricultural Marketing Service. Prices were $1 lower at $172/cwt.
Although too few transactions to trend, there were some early live sales in Nebraska at $281 and a few live sales in the western Corn Belt at $172-$178.
Live prices last week were $178-$180 in Nebraska and $180 in the western Corn Belt. Dressed prices were $283-$286 in Nebraska and $285 in the western Corn Belt.
Choice boxed beef cutout value was 78¢ lower Tuesday afternoon at $309.24/cwt. Select was $2.34 lower at $288.66/cwt.
Corn futures closed mostly 1¢ to 5¢ lower.
KC HRW Wheat closed 16¢ to 20¢ lower through Sep ‘24, and then mostly 8 to 9¢ lower.
Soybean futures closed 7¢ to 16¢ lower through Jan’24.
Cattle futures extended losses on Monday, pressured by last week’s lower cash fed cattle prices and skittishness ahead of this week’s trade.
Feeder Cattle futures closed an average of 92¢ lower (55¢ to $1.27 lower).
Live Cattle futures closed an average of 59¢ lower.
Negotiated cash fed cattle trade was mostly inactive with very light demand in all regions through Monday afternoon with too few transactions to trend, according to the Agricultural Marketing Service.
Live prices last week were $173/cwt. in the Southern Plains, $178-$180 in Nebraska and $180 in the western Corn belt. Dressed prices were $283-$286 in Nebraska and $285 in the western Corn Belt.
The five-area direct weighted average fed steer price last week was $177.15/cwt. on a live basis, which was $1.42 lower. The average fed steer price in the beef was $3.37 lower at 284.05.
Choice boxed beef cutout value was $1.42 lower Monday afternoon at $310.02/cwt. Select was $2.66 higher at $291.00/cwt.
Corn futures closed mostly 2¢ to 3¢ lower on Monday.
KC HRW Wheat closed 11¢ to 19¢ lower through Jly ‘24, and then mostly 8 to 9¢ lower.
Soybean futures closed mostly 10¢ to 15¢ higher.
Cattle futures closed lower on Friday amid weaker cash fed cattle prices but ended mostly higher week to week.
Negotiated cash fed cattle trade ranged from slow on light to moderate demand in the Southern Plains through Friday afternoon, according to the Agricultural Marketing Service. Live prices were $173/cwt., which was $2 lower in the Texas Panhandle and steady to $2 lower in Kansas.
Elsewhere, trade ranged from mostly inactive on light demand to limited on light demand.
For the week, live prices were $2-$7 lower in Nebraska at $178 and steady to $3 lower in the western Corn Belt at $180. Dressed prices were $1-$4 lower in Nebraska at $283-$286 and $3 lower in the western Corn Belt at $285.
Choice boxed beef cutout value was 37¢ higher Friday afternoon at $311.44/cwt. Select was 75¢ lower at $288.34/cwt.
Estimated total cattle slaughter last week of 620,000 head was 2,000 head less than the prior week and 25,000 head fewer than the same week last year. Year-to-date estimated cattle slaughter of 10.6 million head was 352,000 head fewer (-3.2%) than the same time last year. Estimated year-to-date beef production of 8.75 billion pounds was 444.8 million pounds (-4.8%) less than a year earlier.
Live Cattle futures closed an average of 11¢ lower, except for 27¢ higher in near Jun and unchanged in Dec. Week to week on Friday, they closed an average of 61¢ higher, except for unchanged to 37¢ lower in three contracts. Funds extended already weighty long positions, according to the weekly CFTC Commitments of Traders report.
Feeder Cattle futures closed an average of 60¢ lower on Friday, except for 20¢ higher in the back contract. Week to week they closed an average of $1.13 higher, except for $1.42 lower in spot May.
Perhaps the main market story last week was price erosion in the grain complex as China cancelled U.S. corn purchases and managed money fled positions as the nation’s price competitiveness declines.
Corn futures closed mostly 2¢ lower in new-crop contracts on Friday. Week to week, they were an average of 22’0¢ lower through the front six contracts, except for 2’8¢ higher in spot May.
KC HRW Wheat closed 8¢ to 11¢ higher, except for 28’4¢ higher in the front month.
Soybean futures closed mostly 7¢ to 8¢ higher, except for 11¢ to 17¢ higher in the front three contracts. Week to week on Friday, they closed from an average of 24’8¢ lower through the front six contracts, except for 5’8¢ lower in spot May.
Cattle futures gained more ground Thursday, helped along by further erosion in the grain complex, as well as stronger wholesale beef values.
Feeder Cattle futures closed an average of $1.38 higher (62¢ to $1.92 higher).
Live Cattle futures closed an average of 33¢ higher (5¢ to 92¢ higher).
Favorable domestic weather and bullish expectations for Brazilian production continued to pressure grain and Soybean futures on Thursday. Another corn sales cancellation by China (233,000 metric tons) added more weight to Corn futures, which closed 11¢ to 19¢ lower through Jly ‘24 and then mostly 6¢ to 8¢ lower.
KC HRW Wheat closed mostly 12¢ to 18¢ lower.
Soybean futures closed 7¢ to 12¢ lower through Aug ‘24 and then mostly 3¢ lower.
There was no afternoon negotiated cash fed cattle summary from USDA at press time.
Based on the morning report, live and dressed sales Wednesday were steady to $3 lower in the western Corn belt at $180/cwt. and $275, respectively.
Last week, live prices were $175/cwt. in the Texas Panhandle, $173-$175 in Kansas and $180-$185 in Nebraska. Dressed prices in Nebraska were $284-$290.
Choice boxed beef cutout value was $1.49 higher Thursday morning at $310.73/cwt. Select was $2.17 higher at $290.11/cwt.
Negotiated cash fed cattle trade ranged from limited on light demand in the western Corn Belt to inactive on very light demand through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some early sales in the western Corn Belt at $180/cwt. on a live basis and $285 in the beef.
Last week, live prices were $175/cwt. in the Texas Panhandle, $173-$175 in Kansas $180-$185 in Nebraska and $180-$183 in the western Corn Belt. Dressed prices were $284-$290 in Nebraska and $288 in the western Corn Belt.
Choice boxed beef cutout value was $1.61 higher Wednesday afternoon at $309.24/cwt. Select was 32¢ higher at $287.94/cwt.
Weaker Corn futures, and apparently renewed focus on fundamentals, helped Cattle futures gain on Wednesday.
Feeder Cattle futures closed an average of $1.53 higher, (60¢ to $2.15 higher).
Live Cattle futures closed an average of 60¢ higher, (22¢ higher at the front to $1.05 higher at the back).
Corn futures closed 4¢ to 6¢ lower.
KC HRW Wheat closed mostly 12¢ to 24¢ lower.
Soybean futures closed mixed — fractionally mixed through Sep ’24 and then 3¢ to 4¢ higher. The exception was 9¢ and 2¢ lower in the front two contracts.
Negative outside markets and the lack of cash fed cattle direction helped pressure Cattle futures on Tuesday.
Feeder Cattle futures closed an average of 96¢ lower (47¢ lower at the back to $1.62 lower), except for 17¢ higher in Aug.
Live Cattle futures closed an average of 38¢ lower, except no change in spot Apr.
Grain and Soybean futures were under pressure Tuesday from a variety of geo-political and geo-economic forces including cancellation of recent U.S. corn purchases by China to chatter that the Black Sea Initiative would be extended once again.
Corn futures closed narrowly mixed, mostly 1¢ lower to 1¢ higher.
KC HRW Wheat closed 9¢ to 14¢ lower through May ‘24 and then mostly 1¢ to 5¢ lower.
Soybean futures closed mostly 6¢ to 10¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were $175/cwt. in the Texas Panhandle, $173-$175 in Kansas, $180-$185 in Nebraska and $180-$183 in the western Corn Belt. Dressed prices were $284-$290 in Nebraska and $288 in the western Corn Belt.
Choice boxed beef cutout value was 51¢ higher Tuesday afternoon at $307.63/cwt. Select was $1.08 lower at $287.62/cwt.
As expected, markets viewed Friday’s Cattle on Feed report as bearish, despite the fact that cattle numbers continue to decline overall and will continue to decline.
Feeder Cattle futures closed an average of 69¢ lower (17¢ lower at the back to $1.65 lower toward the front).
Live Cattle futures closed an average of 31¢ lower, except for 32¢ and 2¢ higher in the front two contracts.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were steady in the Texas Panhandle at $175/cwt., steady to $2 lower in Kansas at $173-$175, $1-$2 lower in Nebraska at $180-$185 and steady to $1 lower in the western Corn Belt at $180-$183.
Dressed prices were steady to $6 lower in Nebraska at $284-$290 and $2 lower in the western Corn Belt at $288.
The weighted average five-area direct fed steer price was $178.57/cwt. on a live basis last week, which was 1.87 lower. The average fed steer price in the beef was $2.35 lower at $287.42.
Choice boxed beef cutout value was 52¢ higher Monday afternoon at $307.12/cwt. Select was 90¢ higher at $288.70/cwt.
Corn futures closed mostly 2¢ to 3¢ higher on Monday, except for fractionally lower to 12¢ lower in the front four contracts.
KC HRW Wheat closed mostly 7¢ to 8¢ lower.
Soybean futures closed 8¢ to 18¢ lower through May ‘24 and then 6¢ to 8¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to limited on light demand through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, live prices were steady in the Southern Plains at $175/cwt., $1-$2 lower in Nebraska at $180-$185 and unevenly steady in the western Corn Belt at $182. Dressed prices were $2 lower at $288.
Choice boxed beef cutout value was 39¢ lower Friday afternoon at $306.60/cwt. Select was 94¢ lower at $287.80/cwt.
However, weaker Corn futures helped Feeder Cattle futures ease an average of 44¢ higher Friday, (5¢ to $1.00 higher), except for $1.25 lower in spot Apr. They closed an average of $3.69 higher week to week on Friday (37¢ higher in spot Apr to $5.92 higher).
Live Cattle futures closed mixed, from an average of 18¢ lower to an average of 11¢ higher. They were an average of 78¢ higher week to week on Friday, except for 77¢ lower in spot Apr.
Corn futures closed mostly 7¢ to 9¢ lower.
KC HRW Wheat closed mixed, mostly 1¢ to 2¢ lower through May ’24 and then mostly 3¢ higher.
Soybean futures closed mostly 12¢ to 21¢ lower.
Cattle futures could face some pressure heading into the new week, based on Friday monthly Cattle on Feed report.
Cattle futures gained ground Thursday, helped along by eroding Corn futures, likely positioning ahead of Friday’s monthly Cattle on Feed report and despite the steady to softer tone of weekly fed cattle prices.
Feeder Cattle futures closed an average of $1.74 higher (35¢ to $2.75 higher).
Live Cattle futures closed an average of 62¢ higher, except for $1.32 lower in spot Apr and 10¢ lower in the back contract.
Traders appeared to pull some weather premium from grain and soybean contracts Thursday, with a more favorable forecast.
Weekly export sales also pressured Corn or Soybeans.
Net 2022-2023 U.S. corn export sales (April 13) were 41% less than the previous week and 79% less than the prior four-week average. Net 2022-2023 U.S. soybean export sales were down 73% from the previous week and 58% from the prior four-week average.
On the other hand, Net U.S. 2023 beef export sales of 19,100 metric tons were up noticeably from the previous week and up 47% from the prior four-week average, according to the latest U.S. Export Sales report. Increases were primarily for South Korea, Japan, Mexico, Taiwan and China.
Negotiated cash fed cattle trade ranged from slow on light to moderate demand to a standstill through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
So far this week, live prices are steady in the Southern Plains at $175/cwt., steady to $2 lower in Nebraska at $182 and unevenly steady in the western Corn Belt at $181-$183. Dressed prices are $2 lower at $288.
Choice boxed beef cutout value was $1.07 higher Thursday afternoon at $306.99/cwt. Select was $2.72 lower at $288.74/cwt.
Negotiated cash fed cattle was slow on light demand in the Southern Plains through Wednesday afternoon, where a light test brought steady money with last week at $175/cwt. on a live basis.
Elsewhere, trade ranged from limited on light demand to a standstill with too few transactions to trend, according to the Agricultural Marketing Service
Live prices last week were $182-$184 in Nebraska and $180-$184 in the western Corn Belt. Dressed prices were $290.
Choice boxed beef cutout value was $1.14 lower Wednesday afternoon at $305.92/cwt. Select was 15¢ lower at $291.46/cwt.
Cattle futures mostly softened Wednesday, with consolidation and awaiting weekly cash fed cattle trade.
Feeder Cattle futures closed an average of 41¢ lower (2¢ lower at the back to $1.25 lower at the front), except for 70¢ and 25¢ higher in Aug and Sep, respectively.
Live Cattle futures closed an average of 87¢ lower (25¢ lower at the back to $1.60 lower toward the front).
Grain futures were pressured Wednesday by Poland’s announcement to allow grain to flow through its country from Ukraine, while maintaining its closure to grain purchases from that nation.
Corn futures closed mostly 3¢ to 8¢ lower.
KC HRW Wheat closed 14¢ to 19¢ lower.
Soybean futures closed 8¢ to 12¢ lower through Sep ‘24 and then 4¢ to 6¢ lower.
Cattle futures eased higher Tuesday, with follow-through support.
Feeder Cattle futures closed an average of 65¢ higher.
Live Cattle futures closed an average of 25¢ higher (10¢ higher at the back to 72¢ higher at the front).
Corn futures closed mostly 1¢ to 4¢ higher.
KC HRW Wheat closed 6¢ to 8¢ lower through May ‘24 and then mostly 1¢ lower.
Soybean futures closed mostly 5¢ to 8¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Live prices last week were $175/cwt. in the Southern Plains, $182-$184 in Nebraska and $180-$184 in the western Corn Belt. Dressed prices were $290.
Choice boxed beef cutout value was $1.08 higher Tuesday afternoon at $307.06/cwt. Select was $2.29 higher at $291.61/cwt.
Cattle futures rose Monday, buoyed by strong cash prices across the board.
Last week, the weekly weighted average five-area direct fed steer price was $7.34 higher on a live basis at $180.44/cwt. The average fed steer price in the beef was $11.12 higher at $289.77.
Regionally, negotiated cash fed cattle prices last week were $5 higher in the Southern Plains at $175/cwt. on a live basis, $7-$8 higher in Nebraska at $182-$184 and $6-$7 higher in the western Corn Belt at $180-$184. Dressed prices were $5-$10 higher at $290.
On Monday, cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Those prices were helped along by the recent seasonal bump higher in wholesale beef values.
Choice boxed beef cutout value was $3.36 higher Monday afternoon at $305.98/cwt. Select was $5.45 higher at $289.32/cwt. Week to week on Monday, Choice was up $13.07 and Select was up $10.92.
Cash calf and feeder cattle prices followed a similar trajectory last week, with steers and heifers selling $5-$9/cwt. higher nationwide, except for $9-$15 higher in the North Central region, according to AMS.
Feeder Cattle futures closed an average of $1.31 higher on Monday (55¢ higher at the back to $2.85 higher toward the front).
Live Cattle futures closed an average of 93¢ higher.
That was with Grain and soybean futures closing higher Monday, with Support including cool-to-cold, wet weather on the cusp of planting season, as well as Poland’s decision to prohibit grain exports from Ukraine, which slows global grain flow.
Corn futures closed mostly 4¢ to 6¢ higher.
KC HRW Wheat closed mostly 9¢ to 13¢ higher
Soybean futures closed mostly 10¢ to 18¢ higher in the front six contracts, and then 7¢ to 9¢ higher
Negotiated cash fed cattle trade ranged from limited on light demand to mostly inactive on light demand through Friday afternoon, according to the Agricultural Marketing Service.
Live prices last week were $5 higher in the Southern Plains at $175/cwt., $8-$9 higher in Nebraska at $182-$186 and $6-$7 higher in the western Corn Belt at $180-$184. Dressed prices were $5-$10 higher at $290.
Choice boxed beef cutout value was $2.20 higher Friday afternoon at $302.62/cwt. Select was 49¢ higher at $283.87/cwt. Week to week on Friday, Choice was $11.64 higher and Select was $8.09 higher.
Estimated total cattle slaughter last week of 613,000 head was 10,000 head more than the previous week but 25,000 head fewer than the same week last year. Estimated year-to-date cattle slaughter of 9.4 million head was 284,000 head fewer (-2.9%) than the same period a year earlier. Estimated year-to-date beef production of 7.7 billion pounds was 373.2 million pounds less (-4.6%).
Cattle futures finished mostly lower on Friday, weighed down by surging Corn futures.
Feeder Cattle futures closed an average of 88¢ lower (42¢ to $1.12 lower), except for 72¢ and 10¢ higher in the front two contracts.
Live Cattle futures closed an average of 43¢ lower, except for 12¢ higher in away Jun.
Week to week on Thursday, though, Feeder Cattle futures closed an average of $3.52 higher and Live Cattle futures closed an average of $1.41 higher.
Corn futures closed mostly 5¢ to 6¢ higher as traders appeared to apply some weather risk premium.
KC HRW Wheat closed mostly 29¢ to 33¢ higher powered by lingering drought, as well as resurgent rhetoric from Russia that it will withdraw from the Black Sea Initiative if the West fails to meet specific conditions.
Soybean futures closed mostly 10¢ to 12¢ lower, pressured by bullish Brazilian production expectations.
Tighter fed cattle supplies, compounded by weather-reduced tonnage kept the hammer down on negotiated cash fed cattle prices Thursday. Trade ranged from moderate with good demand in Nebraska to mostly inactive on light demand through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, live prices are $5 higher in the Southern Plains at $175/cwt., $7-$8 higher in Nebraska at $182-$184 and $7 higher in the western Corn Belt at $181-$184. Dressed prices are $5-$10 higher at $290.
Choice boxed beef cutout value was $1.94 higher Thursday afternoon at $300.42/cwt. Select was $1.57 higher at $283.38/cwt.
Cattle futures mostly edged lower Thursday with likely repositioning amid the strong rally.
Feeder Cattle futures closed an average of 50¢ lower, except for 5¢ and 45¢ higher in two contracts.
Live Cattle futures closed an average of 58¢ lower, except for $1.22 higher in spot Apr.
Corn futures closed fractionally lower to 3¢ lower.
KC HRW Wheat closed mostly 12¢ to 18¢ lower.
Soybean futures closed mostly 3¢ to 5¢ higher.
Cattle futures continued to gain Wednesday with prospects for record-high cash fed cattle prices increasing again this week.
Feeder Cattle futures closed an average of $1.26 higher (12¢ to $1.80 higher).
Live Cattle futures closed an average of 78¢ higher (37¢ to $1.97 higher).
Choice boxed beef cutout value was $3.38 higher Wednesday afternoon at $298.48/cwt. Select was 23¢ lower at $281.81/cwt
Negotiated cash fed cattle trade ranged from limited on light demand to mostly a standstill through Wednesday afternoon. Although too few to trend, there were some early live sales in the western Corn Belt at $181/cwt.
Last week, live prices were $170/cwt. in the Southern Plains and $174-$177 in Nebraska and the western Corn Belt. Dressed prices were $275-$280.
Corn futures closed mostly 1¢ to 3¢ lower.
KC HRW Wheat closed mostly 2¢ to 3¢ lower.
Soybean futures closed mostly 3¢ to 9¢ lower, except for nearby contracts.
Feeder Cattle futures closed an average of $1.86 higher ($1.17 to $2.62 higher), helped along by weaker Corn futures and cash strength.
Live Cattle futures closed an average of 57¢ higher, supported by cash strength and rising wholesale beef values.
Choice boxed beef cutout value was $2.19 higher Tuesday afternoon at $295.10/cwt. Select was $3.64 higher at $282.04/cwt.
Negotiated cash fed cattle trade was at a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $170/cwt. in the Southern Plains and $174-$177 in Nebraska and the western Corn Belt. Dressed prices were $275-$280.
Grain and Soybean futures seemed to bow to weather and outside markets more than the monthly World Agricultural Supply and Demand Estimates (see below).
Corn futures closed mostly 1¢ to 3¢ lower.
KC HRW Wheat closed mostly 8¢ to 10¢ lower.
Soybean futures closed mostly 2¢ to 4¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, live prices were $3-$5 higher in the Southern Plains at $170/cwt., $5-$6 higher in Nebraska at $174-$177 and $4-$7 higher in the western Corn Belt at $174-$177. Dressed prices were $5-$8 higher at $275-$280.
The five-area weighted average direct fed steer price (FOB) last week was record high at $173.10/cwt. on a live basis, which was $4.36 higher than the previous week. The average fed steer price in the beef was $8.29 higher at $278.65.
Choice boxed beef cutout value was $1.93 higher Monday afternoon at $292.91/cwt. Select was $2.62 higher at $278.40/cwt.
Cattle futures continued to rise Monday, on the back of the last two-week’s surge in cash prices.
Feeder Cattle futures closed an average of 61¢ higher (22¢ to $1.27 higher).
Live Cattle futures closed 44¢ higher.
Corn futures gained Monday with some likely positioning ahead of Tuesday’s monthly World Agricultural Supply and Demand Estimates.
Corn futures closed 5¢ to 10¢ higher through Jly ‘24, and then mostly 2¢ higher.
KC HRW Wheat closed 11¢ to 33¢ higher.
Soybean futures closed mostly fractionally mixed to 1¢ higher.
Negotiated cash fed cattle trade was mostly inactive on light to moderate demand in all regions through Friday afternoon, according to the Agricultural Marketing Service.
For the week, live prices were $3-$5 higher in the Southern Plains at $170/cwt., $4-$5 higher in Nebraska at $172-$177 and $5-$7 higher in the western Corn Belt at $175-$177. Dressed prices were $5-$8 higher at $275-$280.
Choice boxed beef cutout value was $1.33 higher Friday afternoon at $290.98/cwt. Select was 85¢ lower at $275.78/cwt. Week to week on Friday, Choice was $8.91 higher and Select was $5.06 higher.
Estimated total cattle slaughter last week was 603,000 head, which was 48,000 head fewer than the previous week and 62,000 head fewer than the same week last year. Total estimated year-to-date cattle slaughter of 8.8 million head was 253,000 head less (-2.8%) than the same period last year. Estimated year-to-date beef production of 7.24 billion pounds was 342 million pounds less (-4.5%).
Futures markets were closed on observance of Good Friday. Week to week on Thursday, Live Cattle futures closed an average of $1.67 higher (85¢ higher at the back to $3.52 higher at the front). That was an average of $6.14 higher over the past two weeks.
Feeder Cattle futures closed an average of $2.15 higher week to week on Thursday (72¢ higher at the front to $3.55 higher at the back). That was an average of $8.94 higher over the past two weeks.
Equity markets were closed for Good Friday.
Cattle futures took another strong step higher Thursday, buoyed by another week of significant cash gains.
Feeder Cattle futures closed an average of $2.96 higher, also helped along by a break in Corn futures.
Live Cattle futures closed an average of $1.76 higher (85¢ to $2.80 higher) with added support from recently higher wholesale beef prices.
Negotiated cash fed cattle trade ranged from slow to moderate on moderate demand to a standstill through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
So far this week, live prices are $3-$5 higher in the Texas Panhandle at $170/cwt., $4-$5 higher in Nebraska at $172-$177 and $2-$7 higher in the western Corn Belt at $172-$177. Dressed prices are $5-$8 higher at $275-$280.
Negotiated cash fed cattle trade was mostly inactive on light demand in all regions through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were $165-$167/cwt. in the Texas Panhandle; $167 in Kansas, $168-$172 in Nebraska and $170 in the western Corn Belt. Dressed prices were $270-$272.
Choice boxed beef cutout value was 68¢ higher Wednesday afternoon at $288.62/cwt. Select was 21¢ higher at $278.16/cwt.
Cattle future closed narrowly mixed Wednesday, awaiting weekly cash direction.
Feeder Cattle futures closed an average of 34¢ lower.
Live Cattle futures closed an average of 11¢ higher, except for 80¢ higher in spot Apr and unchanged in the back contract.
Corn futures closed mostly 1¢ to 3¢ higher, except for unchanged to 1¢ lower in old-crop contracts
KC HRW Wheat closed mostly 11¢ to 14¢ lower.
Soybean futures closed 3¢ to 6¢ lower through Sep ‘24 and then fractionally higher to 6¢ higher.
Cattle future closed lower Tuesday, amid retrenching and a risk-off atmosphere in commodities and equites tied to growing concerns about recession.
Feeder Cattle futures closed an average of 59¢ lower (10¢ to $1.00 lower).
Live Cattle futures closed an average of 73¢ lower (17¢ lower to $1.00 lower toward the front).
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were $2-$4 higher in the Texas Panhandle at $165-$167/cwt., $4 higher in Kansas at $167, $4-$7 higher in Nebraska at $168-$172 and $4-$6 higher in the western Corn Belt at $170. Dressed prices were $5-$7 higher at $270-$272.
Wholesale beef prices extended gains Tuesday. Choice boxed beef cutout value was $2.85 higher Tuesday afternoon at $287.94/cwt. Select was $3.77 higher at $277.95/cwt.
Corn futures closed 3¢ to 9¢ lower.
KC HRW Wheat closed 1¢ to 3¢ lower.
Soybean futures closed mostly 8¢ to 12¢ lower.
Cattle future closed lower Monday, especially Feeder Cattle, as traders retrenched following the previous session’s new contract highs.
Feeder Cattle futures closed an average of 91¢ lower (5¢ lower at the back to $2.10 lower toward the front).
Live Cattle futures closed an average of 35¢ lower, except for an average of 10¢ higher in two contracts.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were $2-$4 higher in the Texas Panhandle at $165-$167/cwt., $4 higher in Kansas at $167, $4-$7 higher in Nebraska at $168-$172 and $4-$6 higher in the western Corn Belt at $170. Dressed prices were $5-$7 higher at $270-$272.
The weekly weighted average five-area direct fed steer price was $4.33 higher on a live basis last week at $168.74/cwt. The weekly average steer price in the beef was $5.30 higher at $270.36.
Wholesale beef prices continued to gain Monday. Choice boxed beef cutout value was 3.02 higher in the afternoon at 285.09/cwt. Select was $3.46 higher at $274.18/cwt.
As for grains and soybeans, Corn futures closed narrowly mixed, mostly 1¢ lower to 1¢ higher.
KC HRW Wheat closed mostly 1¢ to 2¢ lower through Mar ‘24, and then 1¢ higher.
Soybean futures closed 13¢ to 19¢ higher through Aug ‘24, and then mostly 8¢ to 9¢ higher.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, live prices were $2-$4 higher in the Texas Panhandle at $165-$167/cwt., $4 higher in Kansas at $167, $4-$7 higher in Nebraska at $168-$172 and $4-$6 higher in the western Corn Belt at $170. Dressed prices were $5-$7 higher at $270-$272.
Estimated total cattle slaughter last week of 651,000 head was 25,000 head more than the previous week and 12,000 more than the same week last year. Estimated year-to-date total cattle slaughter of 8.19 million head was 193,000 head fewer (-2.3%) than the same period last year. Estimated year-to-date beef production of 6.75 billion pounds was 282 million pounds less (-4.0%).
The week’s significantly higher cash fed cattle prices continued to push Cattle futures higher Friday.
Feeder Cattle futures closed an average of $1.03 higher.
Live Cattle futures closed an average of 66¢ higher (10¢ higher at the back to $1.12 higher toward the front).
Cattle futures received added support from wholesale beef prices. Choice boxed beef cutout value was $2.87 higher Friday afternoon at $282.07/cwt. Select was $2.26 higher at $270.72/cwt.
Corn futures closed mostly fractionally lower to 4¢ lower, except for 11¢ and 8¢ higher in the front two contracts. The Perspective Plantings report applied pressure
KC HRW Wheat closed 2¢ to 6¢ higher through May ‘24, and then 4¢ to 6¢ lower.
Soybean futures closed 10¢ to 31¢ higher through Aug ‘24, and then mostly 2¢ to 3¢ higher, helped along by the Grain Stocks report.
Cash fed cattle prices jumped Thursday with moderate trade and good demand in all regions, according to the Agricultural Marketing Service.
Live prices were $2-$4 higher in the Texas Panhandle at $165-$167/cwt., mostly $4 higher in Kansas at $167, $5-$6 higher in Nebraska at $169-$171 and mostly $4-$5 higher in the western Corn Belt at $170. Dressed prices were mostly $5 higher at $270, with a few up to $275 in Nebraska and a few up to $276 in the western Corn Belt.
Choice boxed beef cutout value was $1.09 lower Thursday afternoon at $279.20/cwt. Select was 44¢ lower at $268.46/cwt.
Stronger cash prices pulled Cattle futures higher.
Feeder Cattle futures closed an average of $1.58 higher, (from 95¢ higher in expiring Mar to $1.92 higher).
Live Cattle futures closed an average of $1.03 higher (80¢ to $1.72 higher).
Corn futures closed mostly 3¢ to 4¢ lower through Jly ‘24, and then mostly 1¢ lower.
KC HRW Wheat closed mostly 1¢ higher.
Soybean futures closed mostly fractionally lower to 3¢ lower.
Cattle futures took another step higher Wednesday, helped along by more positive outside markets.
Feeder Cattle futures closed an average of $1.48 higher, except for 27¢ lower in expiring spot Mar.
Live Cattle futures closed an average of 68¢ higher (27¢ to 95¢ higher).
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill in all regions through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $163/cwt. in the Southern Plains, $164-$165 in Nebraska and $164-$166 in the western Corn Belt. Dressed prices were $265.
Choice boxed beef cutout value was 34¢ lower Wednesday afternoon at $280.29/cwt. Select was $1.46 lower at $268.90/cwt.
Corn futures closed mostly 1¢ lower, except for 3¢ higher and 1¢ higher in the front two contracts.
KC HRW Wheat closed 2¢ to 15¢ lower.
Soybean futures closed 4¢ to 9¢ higher in the front three contracts, and then mostly 2¢ to 5¢ lower.
Cattle futures closed narrowly mixed Tuesday following the previous session’s strong showing.
Feeder Cattle futures closed an average of 26¢ lower, except for an average of 10¢ higher in two contracts.
Live Cattle futures closed an average of 26¢ higher, except for unchanged in the back contract.
Negotiated cash fed cattle trade was at a standstill in all regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $1 lower in the Southern Plains at $163/cwt., steady to $1 higher in Nebraska at $164-$165 and steady to $2 higher in the western Corn Belt at $164-$166. Dressed prices were $1 higher at $265.
Wholesale beef prices seem to be finding some seasonal footing. Choice boxed beef cutout value was 27¢ higher Tuesday afternoon at $280.63/cwt. Select was 64¢ higher at $270.36/cwt.
Short covering, stronger export inspections and a reduced outlook for harvested acres in Brazil helped Soybean close mostly 9¢ to 25¢ higher.
KC HRW Wheat closed 10¢ to 12¢ higher.
Corn futures closed mostly fractionally lower to 2¢ lower, except for mostly 2¢ higher in new-crop contracts.
Whether it was oversold conditions or grass fever, Cattle futures found firm traction amid active trade to start the week.
Feeder Cattle futures closed an average of $2.80 higher ($2.42 to $3.82 higher).
Live Cattle futures closed an average of $1.89 higher ($1.45 to $2.27 higher).
Negotiated cash fed cattle trade was at a standstill in all regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $1 lower in the Southern Plains at $163/cwt., steady to $1 higher in Nebraska at $164-$165 and steady to $2 higher in the western Corn Belt at $164-$166. Dressed prices were $1 higher at $265.
The five-area direct weighted average fed steer price last week was 17¢ higher on a live basis at $164.41/cwt. The average fed steer price in the beef was $1.24 higher at $265.06.
Choice boxed beef cutout value was 48¢ higher Monday afternoon at $280.36/cwt. Select was 97¢ higher at $269.72/cwt.
Grain and Soybeans futures continued higher Monday with less skittish outside markets and perhaps some early positioning ahead of Friday’s stocks and planting intentions reports.
Corn futures closed 5¢ to 9¢ higher through Jly ‘24 and then mostly 1¢ to 2¢ higher.
KC HRW Wheat closed 11¢ to 13¢ higher.
Soybean futures closed mostly 12¢ to 15¢ higher.
Negotiated cash fed cattle trade was mostly inactive on light demand through Friday afternoon, with too few transactions to trend in any region, according to the Agricultural Marketing Service.
For the week, live prices were $1 lower in the Southern Plains at $163/cwt., steady to $1 higher in Nebraska at $164-$165 and steady to $2 higher in the western Corn Belt at $164-$166. Dressed prices are $1 higher at $265.
Choice boxed beef cutout value was $2.90 lower Friday afternoon at $279.88/cwt. Select was 14¢ lower at $268.75/cwt.
Estimated total cattle slaughter last week was 626,000 head, which was 5,000 head fewer than the previous week and 31,000 head fewer than the same week last year. Total estimated year-to-date cattle slaughter of 7.5 million head was 202,000 head fewer (-2.6%) than the same period a year earlier. Total estimated year-to-date beef production of 6.2 billion pounds was 282.9 million pounds less (-4.3%).
Cattle futures were mixed as declining open interest continued.
Live Cattle futures closed an average of 53¢ higher (30¢ to 85¢ higher), except for 20¢ lower in away Jun.
Feeder Cattle futures closed an average of 76¢ lower (20¢ to $1.05 lower), except for 62¢ higher in spot Mar. Pressure included a surge in Corn Futures — 11¢ to 12¢ higher in old-crop contracts and then mostly 4¢ to 8¢ higher — lifted by flash export corn sales to China.
Chatter about Russia limiting wheat exports buoyed Kansas City Wheat futures, which closed 20¢ to 28¢ higher.
Soybean futures firmed but the overall outlook remains bearish with reports from South America that Brazil’s crop is expected to override any deficits in Argentina.
Negotiated cash fed cattle trade was mostly inactive on light demand through Thursday afternoon, with too few transactions to trend in any region, according to the Agricultural Marketing Service.
So far this week, live prices are $1 lower in the Southern Plains at $163/cwt., steady to $1 higher in Nebraska at $164-$165 and steady to $2 higher in the western Corn Belt at $164-$166. Dressed prices are $1 higher at $265.
Choice boxed beef cutout value was $1.48 higher Thursday afternoon at $282.78/cwt. Select was 93¢ lower at $268.89/cwt.
Net U.S. beef export sales gained ground for the week ending Mar. 16, according to the U.S. Export Sales report. Net sales of 18,600 metric tons (mt) were 5% more than the previous week and 59% more than the prior four-week average. Increases primarily were for South Korea, Japan, China, Taiwan and Hong Kong.
Cattle futures wavered in their range-bound path Thursday.
Feeder Cattle futures closed mixed, from an average of 21¢ lower in three contracts to an average of 33¢ higher.
Live Cattle futures closed an average of 26¢ lower, except for an average of 7¢ higher in the back two contracts.
Corn futures closed mostly 1¢ to 2¢ lower through Jly ‘24 and then mostly 1¢ higher.
KC HRW Wheat closed 4¢ to 8¢ higher through May ’24 and then mostly 1¢ higher.
Soybean futures closed 9¢ to 29¢ lower.
Negotiated cash fed cattle trade was moderate to active on good demand in the Southern Plains through Wednesday afternoon, according to the Agricultural Market Service, with live prices $1 lower at $163/cwt.
Trade was moderate on good demand in Nebraska where live prices were steady at $164 and dressed prices were $1 higher at $265.
In the western Corn Belt, trade was slow on moderate demand. Although too few to trend, early live sales were $165.00-$165.50 and early dressed sales were $265. Prices there last week were $164-$165 and mostly $264, respectively.
Choice boxed beef cutout value was $1.38 higher Wednesday afternoon at $281.30/cwt. Select was $1.73 lower at $269.82/cwt.
Futures traders continued their commodities selling mode Wednesday with bearish outside markets.
Feeder Cattle futures closed an average of 51¢ lower.
Live Cattle futures closed an average of 39¢ lower.
Corn futures closed mostly 1¢ to 3¢ lower through Jly ‘24 and then mostly fractionally higher.
KC HRW Wheat closed 7¢ to 12¢ lower.
Soybean futures closed mostly 18¢ to 25¢ lower.
Cattle futures firmed in cautious trade Tuesday, helped along by more optimistic outside markets.
Feeder Cattle futures closed an average of 38¢ higher, except for an average of 9¢ lower in the back two contracts.
Live Cattle futures closed mixed, from an average of 44¢ higher in the front three contracts to an average of 25¢ lower.
Lower grain and Soybean futures helped.
Corn futures closed mostly 2¢ to 4¢ lower.
KC HRW Wheat closed mostly 5¢ to 8¢ lower.
Soybean futures closed mostly 13¢ to 19¢ lower.
Negotiated cash fed cattle trade was mostly inactive on light demand in all regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were mainly $1 lower in the Southern Plains and Nebraska at $164/cwt., and steady to $2 lower in the western Corn Belt at $164-$165. Dressed prices were $1 lower at $264.
Choice boxed beef cutout value was $1.10 lower Tuesday afternoon at $279.92/cwt. Select was $2.39 lower at $271.55/cwt.
Cattle futures leaked lower Monday amid recently declining open interest and uncertainty about the health of the banking structure, and despite Friday’s friendly Cattle on Feed report.
Feeder Cattle futures closed an average of 46¢ lower, except for an average of 20¢ higher in the back two contracts.
Live Cattle futures closed an average of 41¢ lower, except for an average of 22¢ higher in the back two contracts.
Negotiated cash fed cattle trade ranged from mostly limited on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were mainly $1 lower in the Southern Plains and Nebraska at $164/cwt., and steady to $2 lower in the western Corn Belt at $164-$165. Dressed prices were $1 lower at $264.
The five-area direct weighted average steer price last week was $1.23 lower on a live basis at $164.17. The average steer price in the beef was $1.50 lower at $263.82.
Choice boxed beef cutout value was $2.33 lower Monday afternoon at $281.02/cwt. Select was $1.50 higher at $273.94/cwt.
Corn futures closed mostly 1¢ to 2¢ lower through Jly ‘24 and then mostly 1¢ higher.
KC HRW Wheat closed 6¢ to 8¢ lower.
Soybean futures closed mostly 1¢ to 4¢ lower.
Cattle futures closed mixed Friday amid some likely positioning ahead of the ultimately friendly Cattle on Feed report, lower cash fed cattle prices and uncertain outside markets.
Feeder Cattle futures closed mixed, from an average of 49¢ lower in the front three contracts to an average of 16¢ higher. They closed an average of $1.84 lower week to week on Friday, giving back about half of the previous week’s gains.
Live Cattle futures closed narrowly mixed, from an average of 22¢ lower in the front three contracts to an average of 6¢ higher.
Corn futures closed mostly fractionally higher to 2¢ higher.
KC HRW Wheat closed 10¢ to 16¢ higher through May ‘24 and then 6¢ to 7¢ higher.
Soybean futures closed 8¢ to 15¢ lower, pressured by declining Oil futures.
Negotiated cash fed cattle trade was mostly limited on light demand in all regions through Friday afternoon, according to the Agricultural Marketing Service.
For the week, live prices were mainly $1 lower in the Southern Plain and Nebraska at $164/cwt., and steady to $2.50 lower in the western Corn Belt at $164.00-$164.50. Dressed prices were $1 lower in Nebraska at $264 and $1-$2 lower in the western Corn Belt at $263-$264.
Choice boxed beef cutout value was 60¢ lower Friday afternoon at $283.35/cwt. Select was 68¢ lower at $272.44/cwt.
Estimated total cattle slaughter last week of 631,000 head was 3,000 head fewer than the previous week and 5,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 6.1 million head was 169,000 head fewer (-2.4%). Estimated year-to date beef production of 5.7 billion lbs. was 250.6 million pounds less (-4.2%) less than the same time last year.
Stronger outside markets helped Cattle futures recover some recent losses Thursday.
Feeder Cattle futures closed an average of $1.63 higher.
Live Cattle futures closed an average of 39¢ higher, except for 2¢ lower in the back contract.
Weekly U.S. beef export sales also provided some support. Net U.S. beef export sales for the week ending March 9 were 17,700 metric tons (mt), according to USDA’s Export Sales report. That was noticeably higher than the previous week and 24% more than the previous four-week average.
Corn futures closed mostly 1¢ to 2¢ higher.
KC HRW Wheat closed mostly 1¢ to 2¢ lower.
Soybean futures closed mostly fractionally lower to 1¢ lower.
Negotiated cash fed cattle trade was limited on light demand in all regions through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, live prices are mainly $1 lower in the Southern Plains and Nebraska at $164/cwt., and $1-$2 lower in the western Corn Belt at $163-$165. Dressed prices are $1 lower at $264.
Choice boxed beef cutout value was 32¢ lower Thursday afternoon at $283.95/cwt. Select was 87¢ lower at $271.76/cwt.
Too many black swans in too little time tends to make folks cautious. That seems to be as apt an explanation as any for eroding Cattle futures and then cash fed cattle prices in the face of such positive market fundamentals.
In this case, the next feared black swan appears to be a potential contagion of bank failures. Silcon Valley Bank failed last week. Signal bank followed suit quickly after — the third largest bank failure in U.S. history, according to various sources. Then came speculation/news yesterday that Credit Suisse, across the pond, was on the ropes with its largest investor unwilling to provide more funding.
Major U.S. financial indices fell sharply before regaining some lost ground later yesterday when the Swiss Financial Market Supervisory Authority (FINMA) and Swiss National Bank (SNB) — the nation’s central bank — issued a joint statement, saying in part: “The Swiss Financial Market Supervisory Authority (FINMA) and the Swiss National Bank assert that the problems of certain banks in the USA do not pose a direct risk of contagion for the Swiss financial markets … In addition, the SNB will provide liquidity to the globally active bank if necessary.”
By the time the statement was issued, the die was cast for Cattle futures.
Feeder Cattle futures closed an average of $2.04 lower.
Live Cattle futures closed an average of $1.15 lower.
Corn futures closed mostly 2¢ lower.
KC HRW Wheat closed fractionally higher to 2¢ higher.
Soybean futures closed mostly 12¢ to 13¢ lower.
Negotiated cash fed cattle trade ranged from limited on moderate demand in the Southern Plains to moderate on moderate demand in Nebraska to light on moderate demand through Wednesday afternoon, according to the Agricultural Marketing Service.
So far this week, live prices are mainly $1 lower at $164/cwt. in the Southern Plain and Nebraska, where dressed sales were $1 lower at $264.
Although too few to trend, there have been some sales in the western Corn Belt at $164.00-$164.50 on a live basis and $263-$264 in the beef. Prices there last week were $164-$167 and $265, respectively.
Choice boxed beef cutout value was $1.64 lower Wednesday afternoon at $284.27/cwt. Select was $1.93 lower at $272.63/cwt.
Cattle futures closed mainly lower Tuesday, pressured in part by the lack of cash direction for fed cattle and firmer nearby Corn futures.
Feeder Cattle futures closed an average of 71¢ lower (32¢ to $1.32 lower).
Live Cattle futures closed an average of 40¢ lower, except for an average of 24¢ higher in the back two contracts.
Corn futures gained Tuesday, with support from further erosion in Argentina’s crop.
Corn futures closed mostly 1¢ to 2¢ higher.
KC HRW Wheat closed mostly 9¢ to 17¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $164-$167/cwt. but mostly $165. Dressed prices were $265.
Choice boxed beef cutout value was $1.05 higher Tuesday afternoon at $285.91/cwt. Select was 94¢ higher at $274.56/cwt.
Cattle futures softened further Monday. Aside from taking a pause and potentially profits from last week’s up-move in Feeder Cattle, and steady money for fed cattle, perhaps traders also were wondering about the floor for recently lower wholesale beef prices. As much as anything, though, bearish outside markets, tied to the failure of Silcon Valley Bank and worries about wider repercussions cast a pall over equity and commodity markets.
Feeder Cattle futures closed an average of 53¢ lower (32¢ to $1.17 lower).
Live Cattle futures closed an average of 41¢ lower.
Corn futures closed mostly fractionally lower to 3¢ lower through Jly ‘24 and then 3¢ higher.
KC HRW Wheat closed 1¢ to 3¢ higher.
Soybean futures closed 13¢ to 18¢ lower through Aug ‘24 and then mostly 7¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were steady at $165/cwt., except for $1 lower to $2 higher in the western Corn Belt at $164-$167. Dressed prices were steady to $3 higher in the western Corn Belt at $265 and steady in Nebraska at $265.
The five-area direct weighted average steer price last week was 38¢ higher at $165.40/cwt. The weighted average steer price in the beef was 89¢ higher at $265.32.
Choice boxed beef cutout value was 5¢ lower Monday afternoon at $284.86/cwt. Select was $2.08 higher at $273.62/cwt.
Cattle futures closed lower for the second consecutive day on Friday as Corn futures gained and cash fed cattle prices remained steady to cloudy.
Feeder Cattle futures closed an average of 1.72¢ lower. However, they were $3.66 higher week to week.
Live Cattle futures closed an average of 76¢ lower.
Corn futures closed 4¢ to 6¢ higher.
KC HRW Wheat closed mostly 18¢ to 20¢ higher.
Soybean futures closed mostly 1¢ to 4¢ lower through Sep ‘24 and then mostly 3¢ higher.
Negotiated cash fed cattle trade was slow on moderate demand in Kansas, Nebraska and the western Corn Belt through Friday afternoon, according to the Agricultural Marketing Service. Elsewhere, trade was very limited on light demand.
For the week, live prices were mostly steady at $165/cwt., except for steady to $1 higher in the western Corn Belt at $165-$166. Dressed prices were steady to $3.50 higher in Nebraska at $265.00-$268.50 and steady in the western Corn Belt at $265.
Choice boxed beef cutout value was 31¢ higher Friday afternoon at $284.91/cwt. Select was $4.51 lower at $271.54/cwt.
Cattle futures closed lower Thursday with likely profit taking, the lack of weekly cash fed cattle direction and outside market bearishness.
Feeder Cattle futures closed an average of 90¢ lower.
Live Cattle futures closed an average of 66¢ lower, except for 60¢ higher in the back contract.
Weekly beef export sales offered no support. According to USDA’s weekly U.S. Export Sales report, net U.S. beef export sales for the week ending March 2 were 5,600 metric tons, a marketing-year low. The total was 31% less than the prior week and 67% less than the previous four-week average (see below).
Negotiated cash fed cattle trade got underway in the Texas Panhandle Thursday at steady money of $165/cwt. on slow trade and light demand.
Elsewhere, trade was mostly inactive on light demand with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were $165/cwt. Dressed prices were $265 in Nebraska and $262-$265 in the western Corn Belt.
Choice boxed beef cutout value was 18¢ lower Thursday afternoon at $284.60/cwt. Select was $2.07 lower at $276.05/cwt.
Corn futures closed 12¢ to 16¢ lower through old-crop contracts. and then mostly 3¢ to 4¢ lower.
KC HRW Wheat closed mostly 18¢ to 22¢ lower.
Soybean futures closed mostly 8¢ to 11¢ lower.
Cattle futures gained Wednesday, buoyed by the friendly World Agricultural Supply and Demand Estimates (WASDE), which weighed on Corn and underscored the higher price outlook for cattle (see below).
Feeder Cattle futures closed an average of $1.84 higher.
Live Cattle futures closed an average of 30¢ higher, except for 52¢ lower in spot Apr.
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 $165/cwt. Dressed prices were $265 in Nebraska and $262-$265 in the western Corn Belt.
Choice boxed beef cutout value was $3.15 lower Wednesday afternoon at $284.78/cwt. Select was 63¢ higher at $278.12/cwt.
Corn futures closed mostly 8¢ to 9¢ lower.
KC HRW Wheat closed mostly 2¢ to 9¢ lower.
Soybean futures closed mostly 1¢ to 2¢ lower.
Cattle futures closed mixed Tuesday as bullish fundamentals battled with some likely positioning ahead of Wednesday’s monthly World Agricultural Supply and Demand Estimates.
Feeder Cattle futures closed an average of 62¢ higher (5¢ to 95¢ higher).
Live Cattle futures closed narrowly mixed, from an average of 30¢ lower to an average of 12¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $165/cwt. Dressed prices were $265 in Nebraska and $262-$265 in the western Corn Belt.
Choice boxed beef cutout value was $2.27 lower Tuesday afternoon at 287.93/cwt. Select was $1.02 higher at $277.49/cwt.
Corn futures closed 2¢ to 5¢ lower through Jly ‘24, and then fractionally lower to 1¢ lower.
KC HRW Wheat closed narrowly mixed, mostly 1¢ lower to 1¢ higher.
Soybean futures closed 12¢ to 15¢ lower in the front three contracts, and then mostly 2¢ to 5¢ lower.
Feeder Cattle futures rallied an average of $2.11 higher Monday, helping Live Cattle futures close an average of 65¢ higher, underpinned by bullish fundamentals and last week’s stronger cash.
Last week, negotiated cash fed cattle prices were $1-$2 higher on a live basis at $165/cwt. Dressed prices were $3 higher in Nebraska at $265 and steady to $3 higher in the western Corn Belt at $262-$265.
On Monday, trade ranged from mostly inactive on very light demand to a standstill through the afternoon, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 88¢ higher Monday afternoon at 290.20/cwt. However, Select was 39¢ lower at $276.47/cwt.
Corn futures closed mostly fractionally lower to 2¢ lower.
KC HRW Wheat closed mostly 10¢ to 18¢ lower.
Soybean futures closed 5¢ to 7¢ higher., except for 10¢ to 11¢ higher in the front four contracts.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Friday afternoon, with too few to trend, according to the Agricultural Marketing Service (AMS).
For the week, the only established trade reported by AMS was live prices of $164.50-$165.00/cwt. in the western Corn Belt, which was 50¢ to $1 higher. Dressed prices there the previous week were $260-$262.
Elsewhere the previous week, live prices were mostly at $164/cwt. and dressed prices were $262.
However, various private sources suggested more trade developing in other regions on Friday at $1-$2 higher. For instance, the Texas Cattle Feeders Association reported its members trading steers and heifers about $1 higher at $165.40) and $165.25, respectively.
Through Thursday, the weighted average five-area direct fed steer price was $1.19 higher at $164.84/cwt. The average steer price in the beef was $2.61 higher at $262.54.
Cattle futures gained Friday, supported by stronger cash fed cattle prices.
Feeder Cattle futures closed an average of $1.76 higher ($1.22 to $2.17 higher).
Live Cattle futures closed an average of $1.12 higher.
Choice boxed beef cutout value was 82¢ higher Friday afternoon at 289.32/cwt. Select was 72¢ lower at $276.86/cwt.
Corn futures closed 4¢ to 7¢ higher in old-crop contracts, mostly 1¢ to 3¢ lower.
KC HRW Wheat closed 5¢ to 9¢ lower.
Soybean futures closed mostly 5¢ higher.
Stable Corn futures and strong cash trends helped Feeder Cattle futures lean mostly higher Thursday. They were up an average of 22¢, except for 17¢ lower and unchanged in two contracts.
Live Cattle futures closed an average of 74¢ lower (40¢ to $1.15 lower) with traders awaiting cash direction.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Thursday afternoon, according to the Agricultural Marketing Service.
Although too few to trend, there were a few live sales in the western Corn Belt at $165/cwt. — $164.50 to $165.00 on Wednesday. Dressed prices there last week were $260-$262.
Elsewhere, last week, live prices were mostly at $164/cwt. and dressed prices were $262.
Choice boxed beef cutout value was 67¢ higher Thursday afternoon at 288.50/cwt. Select was $1.15 higher at $277.58/cwt.
Weekly beef export sales offered no support to Cattle futures. For the week ending Feb. 23, net U.S. beef export sales were 8,100 metric tons (mt.), according to the latest USDA U.S. Export Sales report. That was 48% less than the previous week and 62% less than the prior four-week average. Increases were primarily for Japan, Taiwan, China and Mexico.
Corn futures closed narrowly mixed, mostly 1¢ lower to 1¢ higher.
KC HRW Wheat closed mostly 6¢ to 7¢ higher.
Soybean futures closed 8¢ to 15¢ higher through Jan ’24 and then mostly 4¢ to 6¢ higher.
Cattle futures took a breather Wednesday on likely profit taking and awaiting weekly cash direction.
Feeder Cattle futures closed an average of 61¢ lower.
Live Cattle futures closed narrowly mixed, from an average of 42¢ lower to unchanged to an average of 2¢ higher.
Wholesale beef prices declined on Wednesday for the first time in a while. Choice boxed beef cutout value was $1.12 lower in the afternoon at 287.83/cwt. Select was $2.82 lower at $276.43/cwt.
By all accounts, negotiated cash fed cattle trade remained stuck in the gate Wednesday. There was no afternoon USDA summary available at press time.
Last week, live prices were mostly at $164/cwt. in all regions. Dressed prices were $260-$262.
Grain and Soybean futures found some footing Wednesday.
Corn futures closed mostly fractionally lower to 1¢ lower, except for 3¢ to 11¢ higher in old-crop contracts.
KC HRW Wheat closed 1¢ to 5¢ higher through Sep ’24 and then fractionally lower to 2¢ lower.
Soybean futures closed 10¢ to 15¢ higher through May ’24 and then mostly 4¢ to 5¢ higher.
Cattle futures continued higher Tuesday, supported by further downward correction in Corn futures and another day of higher wholesale beef values.
Feeder Cattle futures closed an average of 70¢ higher.
Live Cattle futures closed an average of 47¢ higher, except for $2.50 higher in expiring Feb.
Choice boxed beef cutout value was 61¢ higher Tuesday afternoon at 288.95/cwt. Select was even at $279.25/cwt.
Negotiated cash fed cattle trade ranged from limited on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service. There were a few early live trades in the western Corn Belt at $165/cwt., but too few to trend.
Last week, live prices were mostly at $164/cwt. in all regions, which was $2 higher in the Southern Plains, $3-$4 higher in Nebraska and $2-$4 higher in the western Corn Belt. Dressed prices were $3 higher in Nebraska at $260 and $3-$5 higher in the western Corn belt at $260-$262.
Erosion in grain and Soybean futures continued Tuesday as it appears export demand concerns and the promising domestic production outlook have funds on the defensive.
Corn futures closed 11¢ to 13¢ lower through old crop contracts, and then mostly 6¢ lower.
KC HRW Wheat closed 2¢ to 7¢ lower through Jly ‘24 and then mostly 6¢ higher.
Soybean futures closed mostly 22¢ to 32¢ lower through Aug ’24 and then 17¢ to 19¢ lower.
Wholesale beef prices and consumer resilience maintain their strong trends. Choice boxed beef cutout value was $1.06 higher Monday afternoon at 288.34/cwt. Select was $2.17 higher at $279.25/cwt.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were mostly $164/cwt. in all regions, which was $2 higher in the Southern Plains, $3-$4 higher in Nebraska and $2-$4 higher in the western Corn Belt. Dressed prices were $3 higher in Nebraska at $260 and $3-$5 higher in the western Corn belt at $260-$262.
The weighted average five-area direct fed steer price last week was $2.55 higher on a live basis at $163.72/cwt. The average steer price in the beef was $4.19 higher at $260.97.
Softer Corn futures helped lift Feeder Cattle futures an average of 76¢ higher on Monday (10¢ higher in spot Mar to $1.35 higher in the back contract).
Live Cattle futures closed an average of 18¢ lower, except for an average of 9¢ higher in three away contracts.
Corn futures closed mostly fractionally lower, except for 5¢ to 7¢ lower in old-crop contracts.
KC HRW Wheat closed 12¢ to 18¢ lower through May ‘24 and then 4¢ to 6¢ lower.
Soybean futures closed fractionally lower to 10¢ lower through May ’24 and then fractionally higher to 1¢ higher.
Through Friday afternoon’s report, weekly negotiated cash fed cattle trade had yet to be established in the Southern Plains. Prices were higher in other regions, though. Live prices were $3-$4 higher in Nebraska at $163-$164/cwt. and $2-$4 higher in the western Corn Belt at $164, where dressed prices were $3 higher at $260. Dressed trade in Nebraska the previous week was at $257. The prior week, live prices were $162 in the Southern Plains.
Choice boxed beef cutout value was 63¢ lower Friday afternoon at 287.28/cwt. Select was $1.21 higher at $277.08/cwt.
Estimated total cattle slaughter last week of 618,000 head was 9,000 head fewer than the previous week and 33,000 head fewer than the same week last year. Estimated year-to-date cattle slaughter was 121,000 head fewer (-2.3%) than last year. Estimated year-to-date beef production of 4.1 billion lbs. was 181.1 million pounds less (-4.2%).
Cattle futures took a breather Friday amid likely profit taking and positioning ahead of what turned out to be a neutral-to-positive Cattle on Feed report. More about that report momentarily.
Feeder Cattle futures closed narrowly mixed, from an average of 20¢ lower to an average of 16¢ higher. They were an average of $3 higher week to week.
Live Cattle futures closed an average of 25¢ lower, except for an average of 5¢ higher in the front two contracts. Week to week, there were an average of 70¢ higher.
Wheat futures dragged the grain complex lower Friday on chatter about a potential ceasefire between Russia and Ukraine.
KC HRW Wheat closed 19¢ to 22¢ lower.
Corn futures closed 8¢ to 10¢ lower through Jly ‘24 and then 3¢ to 5¢ lower.
Soybean futures closed mostly 7¢ to 14¢ lower.
Cattle futures — especially Feeder Cattle — gained Thursday with sharply lower nearby Corn futures, as well as likely positioning ahead of Friday’s Cattle on Feed report.
Feeder Cattle futures closed an average of $1.55 higher.
Live Cattle futures closed an average of 25¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Thursday afternoon. Although too few to trend, there were some early live sales in Nebraska at $164/cwt.
Last week, prices on a live basis were $162 in the southern Plains, $159-$161 in Nebraska and $160-$162 in the western Corn Belt. Dressed prices were $257 in Nebraska and $254-$257 in the western Corn Belt.
Choice boxed beef cutout value was unchanged Thursday afternoon at 287.91/cwt. Select was $2.23 higher at $275.87/cwt.
Corn futures closed lower Thursday with much of the pressure likely stemming from the Grains and Oilseeds Outlook shared at USDA’s Agricultural Outlook Forum, which projected 2023/24 production to be the second largest in history (see below).
Corn futures closed 13¢ to 15¢ lower through old-crop contracts and then 4¢ to 7¢ lower through new-crop.
KC HRW Wheat closed 10¢ to 14¢ lower through near Jly and then 3¢ to 7¢ lower.
Soybean futures closed mostly 7¢ to 8¢ lower.
Feeder Cattle futures gained on lower Corn futures, closing an average of 83¢ higher.
Live Cattle futures closed an average of 17¢ higher, except for unchanged to 17¢ lower in three contracts.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Wednesday afternoon.
Last week, prices on a live basis were $162 in the southern Plains, $159-$161 in Nebraska and $160-$162 in the western Corn Belt. Dressed prices were $257.
Choice boxed beef cutout value was 71¢ higher Wednesday afternoon at 287.91/cwt. Select was $2.80 higher at $273.64/cwt.
Wheat led the grain complex lower Wednesday with favorable domestic moisture, as well as chatter than the Baltic Sea export opening will be extended.
KC HRW Wheat closed 14¢ to 28¢ lower. Corn futures closed 3¢ to 6¢ lower through Jly ‘23 and then mostly fractionally lower to 1¢ lower. Soybean futures closed 5¢ to 9¢ lower through Sep ’23 and then mostly fractionally lower to 2¢ higher.
Historically strong February wholesale beef values and dwindling beef production, compounded by reduced feedlot performance due to winter weather, helped Cattle futures move higher Tuesday, despite bearish outside markets.
Live Cattle futures closed an average of 54¢ higher (22¢ to $1.17 higher).
Feeder Cattle futures closed an average of 58¢ higher.
Choice boxed beef cutout value was $4.31 higher Tuesday afternoon at 287.20/cwt. Select was $2.79 higher at $270.84/cwt.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Tuesday afternoon. Although too few to trend, there were a few live trades in Nebraska at $161/cwt. and a few in the western Corn Belt at $164.
Last week, prices on a live basis were $162 in the Southern Plains, $159-$161 in Nebraska and $160-$162 in the western Corn Belt. Dressed prices were $257.
Corn futures closed mostly 1¢ to 3¢ higher.
KC HRW Wheat closed 2¢ to 3¢ lower.
Soybean futures closed 18¢ to 21¢ higher through Aug. ’23 and then mostly 10¢ to 13¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Prices on a live basis last week were $1-$2 higher in the Southern Plains at $162/cwt., $1-$2 higher in Nebraska at $159-$161 and steady to $2 higher in the western Corn Belt at $160-$162. Dressed prices were $3 higher at $257.
The weighted average five-area direct fed steer price last week was $1.55 higher on a live basis at $161.17/cwt. The weighted average steer price in the beef was $2.87 higher at $256.78.
Choice boxed beef cutout value was $1.85 higher Monday afternoon at $282.89/cwt. Select was $2.16 higher at $268.05/cwt.
CME Agriculture futures and equity markets were closed Monday in observance of President’s Day
Negotiated cash fed cattle trade was slow to moderate on light to moderate demand in the Southern Plains through Friday afternoon, according to the Agricultural Marketing Service. Live sales were mostly $2 higher in the Texas Panhandle at $162/cwt. and $1-$2 higher in Kansas at $162.
Elsewhere, trade was slow on light to moderate demand with too few transactions to trend.
For the week, live sales were steady to $3 higher in Nebraska at $160 and $2 higher in the western Corn Belt at $162. Dressed prices in both regions were $3 higher at $257.
Choice boxed beef cutout value was $1.49 higher Friday afternoon at $281.04/cwt. Select was $3.25 higher at $265.89/cwt.
Estimated total cattle slaughter last week of 627,000 head was 3,000 head fewer than the previous week and 43,000 head fewer than the same week last year. Estimated year-to-date cattle slaughter of 4.4. million head was 86,000 head less (-1.9%). Estimated year to date beef production of 3.6 billion lbs. was 141 million pounds less (-3.7%).
Stronger cash fed cattle prices helped Live Cattle futures gain Friday.
Live Cattle futures closed an average of 38¢ higher.
Feeder Cattle futures closed narrowly mixed, from an average of 19¢ lower to an average of 15¢ higher.
Corn futures closed mostly 2¢ higher through Jly ‘24 and then mainly unchanged to 1¢ lower.
KC HRW Wheat closed mostly 5¢ to 8¢ higher.
Soybean futures closed mostly 1¢ to 2¢ higher.
Profit taking appeared to the order of the day in Cattle futures on Thursday, despite positive weekly beef exports.
Net 2023 U.S. beef export sales of 28,100 metric tons (MT) the week ending Feb. 9 were 72% more than the previous week and 34% more than the prior four-week average, according to USDA’s weekly U.S. Export Sales report. Increases were primarily for Japan, South Korea, China, Mexico, and Hong Kong.
Live Cattle futures closed an average of 40¢ lower, except for 22¢ higher in spot Feb.
Feeder Cattle futures closed an average of 60¢ lower (40¢ to $1.10 lower).
Negotiated cash fed cattle trade ranged from slow on light demand to mostly inactive on very light demand through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service. There were a few live trades reported in Nebraska at $160/cwt.
So far this week, live prices are steady to $2 higher at $159-$160 in Nebraska and $160-$162 in the western Corn Belt. Dressed prices in both regions last week were $254.
In the Southern Plains last week, live prices were $160 in the Texas Panhandle and $160-$161 in Kansas.
Choice boxed beef cutout value was $3.88 higher Thursday afternoon at $279.55/cwt. Select was $1.45 higher at $262.64/cwt.
Corn futures closed mostly fractionally lower to 1¢ lower.
KC HRW Wheat closed mostly 3¢ to 4¢ higher.
Soybean futures closed mostly 4¢ to 8¢ higher.
Negotiated cash fed cattle trade was limited on light demand in Nebraska and the western Corn Belt through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early live sales in Nebraska at $159/cwt. and a few in the western Corn Belt at $162. Elsewhere, trade was at a standstill.
Live prices last week were $160/cwt. in the Texas Panhandle, $160-$161 in Kansas, $157-$160 in Nebraska and $160 in the western Corn Belt. Dressed prices were $254.
Choice boxed beef cutout value was $3.61 higher Wednesday afternoon at $275.67/cwt. Select was $2.41 higher at $261.19/cwt.
Weaker Corn futures helped Feeder Cattle futures gain marginally, closing an average of 36¢ higher.
Live Cattle futures continued sideways, closing narrowly mixed, from an average of 6¢ lower to an average of 7¢ higher,
Grain and Soybean futures weakened Wednesday with pressure including positive harvest weather in South America.
Corn futures closed 2¢ to 6¢ lower through Jly ‘24 and then mostly unchanged to fractionally lower.
KC HRW Wheat closed 9¢ to 12¢ lower.
Soybean futures closed mostly 4¢ to 8¢ lower.
Cattle futures took a breath Tuesday and wobbled narrowly lower awaiting cash direction.
Live Cattle futures closed an average of 27¢ lower.
Feeder Cattle futures closed an average of 47¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Live prices last week were $160/cwt. in the Texas Panhandle, $160-$161 in Kansas, $157-$160 in Nebraska and $160 in the western Corn Belt. Dressed prices were $254.
Wholesale beef prices continued their recent upward trend. Choice boxed beef cutout value was $2.11 higher Tuesday afternoon at $272.06/cwt. Select was $2.57 higher at $258.78/cwt.
Profit taking seemed to be the main order of the day in the grain complex.
Corn futures closed 1¢ to 2¢ lower through Dec ‘23 and then mostly unchanged.
KC HRW Wheat closed mostly 3¢ to 6¢ lower.
Soybean futures closed mostly 2¢ to 6¢ lower.
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $2 higher in the Texas Panhandle at $160/cwt., $2 higher in Kansas at $160-$161, $1-$2 higher in Nebraska at $157-$160 and steady to $64 higher in the western Corn Belt at $160. Dressed prices were $4 higher at $254.
Last week’s stronger cash trade and recently higher wholesale beef values helped lift Cattle futures Monday.
Live Cattle futures closed an average of 77¢ higher.
Feeder Cattle futures closed an average of 77¢ higher.
Choice boxed beef cutout value was 29¢ higher Monday afternoon at $269.95/cwt. Select was $1.92 higher at $256.21/cwt.
Corn futures closed mostly 1¢ to 4¢ higher through Jly ‘24 and then mostly unchanged to fractionally higher.
Soybean futures closed 2¢ to 3¢ higher.
Cattle feeders’ patience paid off once again last week as they pried generally $2-$4 more from packers.
Negotiated cash fed cattle trade ranged from slow on light demand to mostly inactive on light demand, through Friday afternoon, according to the Agricultural Marketing Service.
For the week, live prices were $2 higher in the Texas Panhandle at $160/cwt., $1-$2 higher in Kansas at $160 and steady to $4 higher in the western Corn Belt at $160. The previous week, live sales in Nebraska were at $155-$159.
Last week, dressed prices were $4 higher at $254.
Choice boxed beef cutout value was 37¢ higher Friday afternoon at $269.66/cwt. Select was 28¢ higher at $254.29/cwt.
Total cattle slaughter last week of 630,000 head was 11,000 head fewer than the previous week and 30,000 head less than the same time a year earlier. Year-to-date total cattle slaughter of 3.80 million head was 39,000 head fewer (-1.0%) than last year. Year-to-date beef production of 3.13 billion pounds was 93.2 million pounds less (-2.9%).
Stronger cash prices helped lift Live Cattle futures Friday.
Live Cattle futures closed an average of 21¢ higher, except for unchanged in away-Apr.
Feeder Cattle futures closed an average of 25¢ lower, except for 35¢ higher in the back contract.
Grain and Soybean futures were up on geopolitical news Friday. Russia’s announcement that it would cut oil production fueled recently stronger Crude Oil prices, dragging Corn and Soybeans along. For Wheat, it was a shakeup in Moldova’s government — a neighbor to Ukraine — which added wonderment of Black Sea exports.
Corn futures closed mostly 4¢ to 5¢ higher.
KC HRW Wheat closed 21¢ to 30¢ higher through Jly ‘24 and then mostly 16¢ higher.
Soybean futures closed 18¢ to 23¢ higher through Aug ‘23 and then mostly 9¢ to 13¢ higher.
Feeder Cattle futures edged an average of 34¢ higher, except for unchanged in Apr., supported by lower Corn futures.
Live Cattle languished, waiting for cash direction. They closed an average of 21¢ lower, except for 2¢ higher spot Feb.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill, with too few transactions to trend through Thursday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $158/cwt. in the Texas Panhandle, $158-$159 in Kansas, $155-$159 in Nebraska and $154-$160 in the western Corn Belt. Dressed prices were $250.
Choice boxed beef cutout value was $2.09 higher Thursday afternoon at $269.29/cwt. Select was 85¢ higher at $254.01/cwt.
Grain and Soybean futures were down on South American weather and anemic weekly export data.
Corn futures closed 3¢ to 7¢ lower through Jly ‘24 and then mostly 1¢ lower.
KC HRW Wheat closed 11¢ to 17¢ lower.
Soybean futures closed mostly 3¢ to 5¢ lower.
Cattle futures drifted lower again Wednesday awaiting cash direction.
Feeder Cattle futures closed an average of 62¢ lower.
Live Cattle futures closed an average of 14¢ lower, except for an average of 16¢ higher in the front two contracts.
Negotiated cash fed cattle trade was limited on light demand in Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early live sales at $157/cwt. Elsewhere, trade ranged from mostly inactive on very light demand to a standstill.
Last week, live prices were $158/cwt. in the Texas Panhandle, $158-$159 in Kansas, $155-$159 in Nebraska and $154-$160 in the western Corn Belt. Dressed prices were $250.
Choice boxed beef cutout value was 48¢ higher Wednesday afternoon at $267.20/cwt. Select was $4.17 lower at $253.16/cwt.
Corn futures closed mostly 1¢ to 2¢ higher.
KC HRW Wheat closed mostly 6¢ to 9¢ higher.
Soybean futures closed fractionally higher to 4¢ higher through Nov ’23 and then mostly unchanged to 5¢ lower.
Cattle futures took a breather Tuesday amid light trade as traders await weekly cash direction.
Feeder Cattle futures closed an average of 69¢ lower.
Live Cattle futures closed an average of 67¢ lower.
Negotiated cash fed cattle trade was limited on light demand in Kansas through Tuesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early live sales at $159/cwt. Elsewhere, trade ranged from mostly inactive on very light demand to a standstill.
Last week, live prices were $158/cwt. in the Texas Panhandle, $158-$159 in Kansas, $155-$159 in Nebraska and $154-$160 in the western Corn Belt. Dressed prices were $250.
Choice boxed beef cutout value was 15¢ higher Tuesday afternoon at $266.72/cwt. Select was $3.61 higher at $257.33/cwt.
Grain and Soybean futures Tuesday likely reflected some positioning ahead of Wednesday monthly World Agricultural Supply and Demand Estimates.
Corn futures closed 2¢ to 5¢ lower.
KC HRW Wheat closed 3¢ to 9¢ higher through May ‘24, and then mostly fractionally higher.
Soybean futures closed 1¢ to 6¢ lower through Aug ‘23 and then mostly 1¢ to 3¢ higher.
Cattle futures extended gains again Monday, supported by last week’s stronger cash prices and notions they can move higher again this week.
Feeder Cattle futures closed an average of $1.28 higher.
Live Cattle futures closed an average of 45¢ higher.
When all the counting was in last week, negotiated cash fed cattle prices were $2 higher on a live basis in the Texas Panhandle at $158/cwt. and then $2-$3 higher at $158-$159 in Kansas, $155-$159 in Nebraska and $154-$160 in the western Corn Belt. Dressed prices were $2 higher at $250.
The five-area direct weighted average fed steer price last week was $2.92 higher at $158.17/cwt. The weighted average steer price in the beef was $2.16 higher at $249.88.
On Monday, cash fed cattle trade ranged from a mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.83 higher Monday afternoon at $266.57/cwt. Select was $2.11 higher at $253.72/cwt.
Corn futures closed 1¢ to 3¢ higher through Jly ‘24, buoyed by exports, and then fractionally lower to 2¢ lower.
Soybean futures closed 8¢ to 11¢ lower through the front four contracts and then unchanged to 2¢ lower.
Cattle futures extended gains and edged higher Friday, buoyed by expectations of higher cash prices.
Feeder Cattle futures closed an average of 46¢ higher.
Live Cattle futures closed an average of 26¢ higher, except for 15¢ lower in the back contract.
Negotiated cash fed cattle trade was slow on light demand in Nebraska and the western Corn Belt through Friday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were a few dressed sales in both regions at $250/cwt., and some live sales in the western Corn Belt at $160.
Elsewhere, trade ranged from inactive on very light demand to a standstill.
The previous week, live prices were $156/cwt. in the Southern Plains, $153-$156 in Nebraska and $152-$157 in the western Corn Belt. Dressed prices were $248.
Choice boxed beef cutout value was 36¢ lower Friday afternoon at $264.74/cwt. Select was $2.05 lower at $251.61/cwt.
Corn futures closed mostly fractionally higher to 1¢ higher through Jly ‘24 and then fractionally lower to 2¢ lower.
KC HRW Wheat closed 6¢ to 8¢ lower through Jly ‘24 and then 3¢ lower.
Soybean futures closed mostly 1¢ to 2¢ lower.
Cattle futures rebounded Thursday after the previous day’s breather, buoyed by the bullish Cattle report, positive weekly exports and notions this week’s cash fed cattle prices will be higher.
Feeder Cattle futures closed an average of $2.03 higher ($1.80 to $2.68 higher).
Live Cattle futures closed an average of $1.12 higher (80¢ to $1.325 higher).
Negotiated cash fed cattle trade was limited on light demand in the Western Corn Belt through Thursday afternoon, with a few live sales at $154/cwt., according to the Agricultural Marketing Service. Elsewhere, trade ranged from standstill to mostly inactive.
Last week, live prices were $156/cwt. in the Southern Plains, $153-$156 in Nebraska and $152-$157 in the western Corn Belt. Dressed prices were $248.
Choice boxed beef cutout value was 3¢ higher Thursday afternoon at $265.10/cwt. Select was 88¢ higher at $253.66/cwt.
Corn futures closed 1¢ to 5¢ lower through Jly ’24.
KC HRW Wheat closed mostly fractionally lower to 3¢ lower.
Soybean futures closed 3¢ to 17¢ higher.
Cattle futures paused and retraced Tuesday following the previous day’s gains and awaiting cash direction.
Feeder Cattle futures closed an average of $1.72 lower ($1.35 to $2.90 lower).
Live Cattle futures closed an average of 45¢ lower (35¢ to 80¢ lower).
Negotiated cash fed cattle trade was at a standstill through Wednesday afternoon in the Southern Plains and Nebraska, according to the Agricultural Marketing Service. In the Western Corn Belt, trading was inactive on very light demand with too few trades for a trend.
Last week, live prices were $156/cwt. in the Southern Plains, $153-$156 in Nebraska and $152-$157 in the western Corn Belt. Dressed prices were $248.
Choice boxed beef cutout value was $1.02 lower Wednesday afternoon at $265.07/cwt. Select was 14¢ lower at $252.78/cwt.
Corn futures closed mostly 1¢ to 5¢ higher.
KC HRW Wheat closed mostly 3¢ to 5¢ higher through May ’24 and then mostly 2¢ lower
Soybean futures closed fractionally lower to 17¢ lower through Jan’24, then mixed.
Feeder Cattle futures closed higher Monday in anticipation of the USDA Cattle report (see below).
Feeder Cattle futures closed an average of $1.36 higher (93¢ to $2.23 higher).
Live Cattle futures closed mixed, from 33¢ down to 45¢ higher.
Negotiated cash fed cattle trade was at a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $156/cwt. in the Southern Plains, $153-$156 in Nebraska and $152-$157 in the western Corn Belt. Dressed prices were $248.
Choice boxed beef cutout value was $2.01 lower Tuesday afternoon at $266.09/cwt. Select was $1.40 higher at $252.92/cwt.
Corn futures closed mixed, unchanged to down 4¢ through Sept. 23, then up 1¢ to 3¢.
KC HRW Wheat closed mostly down 2¢.
Soybean futures closed mixed, up fractionally to 2¢ higher in spot March and May respectively, then mostly down 1¢ to 4¢.
Cattle futures gained Monday, supported by higher cash trade in the South at the end of last week, as well as likely positioning ahead of Tuesday’s Cattle inventory report (see below).
Live Cattle futures closed an average of $1.26 higher (80¢ to $2.52 higher).
Feeder Cattle futures closed an average of 80¢ higher.
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $1 higher in the Southern Plains at $156/cwt., from $2 lower to $1 higher in Nebraska at $153-$156 and $1-$4 lower in the western Corn Belt at $152-$157.
Dressed prices were steady in Nebraska at $248 and steady to $2 lower in the western Corn Belt at $248.
The weighted average five-area direct fed steer price last week was near steady with the previous week on a live basis at $155.25/cwt. The average steer price in the beef was 50¢ lower at $247.72.
Choice boxed beef cutout value was 34¢ higher Monday afternoon at $268.10/cwt. Select was 98¢ higher at $251.52/cwt.
Soybean futures led grains higher Monday, supported by recently more positive U.S. exports.
Soybean futures closed 21¢ to 25¢ higher through Aug ‘23, and then 10¢ to 17¢ higher.
Corn futures closed mostly 2¢ to 5¢ higher.
KC HRW Wheat futures closed mostly 4¢ to 6¢ higher through Mar ‘24 and then mostly 2¢ lower to 8¢ higher.
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.
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.
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.
Cattle futures closed narrowly mixed Tuesday in the face of higher grain futures and the lack of cash direction.
Feeder Cattle futures closed an average of 18¢ lower, except for unchanged and 32¢ higher toward the front.
Live Cattle futures closed an average of 35¢ higher.
Corn and Wheat futures rebounded Tuesday with likely short covering.
Corn futures closed 5¢ to 10¢ higher through Jly ‘24 and then mostly 2¢ higher.
KC HRW Wheat futures closed mostly 14¢ higher.
Soybean futures firmed, too, closing fractionally lower to 2¢ lower through Sep ‘24 and then 1¢ to 5¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday 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 $1.80 lower Tuesday afternoon at $269.64/cwt. Select was $2.10 lower at $252.39/cwt.
Cattle futures extended gains Monday, buoyed by sharply lower Corn futures, and an apparently neutral view of Friday’s Cattle on Feed report.
Feeder Cattle futures closed an average of $1.47 higher (85¢ to $2.30 higher).
Live Cattle futures closed an average of 63¢ higher.
Corn and Soybean futures eroded Monday, apparently mostly due to moisture in South America over the weekend.
Corn futures closed 8¢ to 10¢ lower through Jly ‘24 and then mostly 2¢ to 3¢ lower.
Soybean futures closed mostly 10¢ to 13¢ lower.
KC Wheat on the CME closed 22¢ to 29¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday 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 28¢ lower Monday afternoon at $271.44/cwt. Select was $1.94 lower at $254.49/cwt.
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.
Cattle futures softened Thursday with the lack of direction in weekly cash fed cattle prices and perhaps with some positioning ahead of Friday’s monthly Cattle on Feed report.
Feeder Cattle futures closed an average of 82¢ lower (2¢ lower toward the back to $1.40 lower near the front), except for 35¢ higher in the back contract.
Live Cattle futures closed an average of 75¢ lower.
Corn futures continued to soften — mostly 4¢ to 5¢ lower — with the wetter outlook for Argentina.
Soybean futures closed 8¢ to 10¢ lower through Jan ‘24. And then mostly 2¢ to 5¢ lower.
Negotiated cash fed cattle trade was limited on light demand through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service. There were some early live trades in Kansas at $155/cwt., as well as some early dressed sales at $248-$249 in Nebraska and $248 in the western Corn Belt.
Last week 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 $2.57 lower Thursday afternoon at $271.51/cwt. Select was $1.83 higher at $255.69/cwt.
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.
Cattle futures closed lower to start the trading week, pressured by last week’s softer cash fed cattle prices, the lack of direction so far this week and stronger Corn futures.
Live Cattle futures closed an average of 35¢ lower.
Feeder Cattle futures closed an average of $1.08 lower (70¢ to $1.60 lower).
Corn futures closed mostly 3¢ to 5¢ higher.
Soybean futures closed 6¢ to 12¢ higher through Aug ‘23 and then mostly unchanged to 3¢ lower.
Negotiated cash fed cattle trade ranged from a standstill to mostly inactive on very light demand with too few transactions to trend through Tuesday afternoon, 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 77¢ lower Tuesday afternoon at $276.66/cwt. Select was $2.02 lower at $254.53/cwt.
Note: Futures and equity markets were closed yesterday. As well, some AMS reports were unavailable due to the holiday.
Negotiated cash fed cattle prices last week were $156/cwt. on a live basis in the Southern Plains and Nebraska, where dressed prices were $252. Live prices in the western Corn Belt were $157-$159.
Choice boxed beef cutout value was 81¢ higher Monday afternoon at $277.43/cwt. Select was 34¢ lower at $256.55/cwt.
Negotiated cash fed cattle trade ranged from slow to moderate on moderate demand in the Southern Plains and Nebraska through Friday afternoon, according to the Agricultural Marketing Service. Elsewhere, it was limited on light demand.
For the week, in a light test, live prices were $1 lower at $156/cwt. in the Southern Plains and Nebraska, and at $157-$159 in the western Corn Belt. Dressed prices in Nebraska were generally steady at $252; they were $252 in the western Corn Belt a week earlier.
Choice boxed beef cutout value was 87¢ lower Friday afternoon at $276.62/cwt. Select was 12¢ lower at $256.89/cwt.
Live cattle futures firmed Friday despite lower cash fed cattle prices and the seasonal turn lower in wholesale beef prices.
Live Cattle futures closed an average of 31¢ higher, except for 7¢ lower in near Apr.
However, higher Corn futures pressured Feeder Cattle futures an average of 86¢ lower (2¢ to $1.40 lower).
Corn and Soybean futures continued to gain Friday on the bullish WASDE.
Corn futures closed mostly 1¢ to 4¢ higher
Soybean futures closed 3¢ to 8¢ higher through Aug ‘23 and then mostly 1¢ to 2¢ lower.
Cattle futures closed lower Thursday, with pressure from the continued lack of cash fed cattle direction and the Corn-friendly World Agricultural Supply and Demand Estimates (see below).
Corn futures closed to 13¢ to 15¢ higher through the front three contracts, then 5¢ to 7¢ higher through Jly ’24.
Soybean futures closed 14¢ to 25¢ higher through Aug ‘23 and then mostly 1¢ to 3¢ higher.
Feeder Cattle futures closed an average of $1.06 lower through the front half of the board, and then unchanged to an average of 17¢ higher.
Live Cattle futures closed an average of 26¢ lower, except for unchanged and 7¢ higher in two away contracts.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand in the Southern Plains to limited on light demand through Thursday afternoon, according to the Agricultural Marketing Service.
Although too few to trend, there were some early dressed sales in Nebraska at $252/cwt. and a few on a live basis in the western Corn Belt at $158-$159.
Live prices last week were $157/cwt. in the Southern Plains and Nebraska and $158-$160 in the western Corn Belt. Dressed prices were $252.
Choice boxed beef cutout value was $3.24 lower Thursday afternoon at $277.49/cwt. Select was $1.09 lower at $257.01/cwt.
Cattle futures closed lower Wednesday with the lack of cash fed cattle direction and firmer Corn futures prices.
Feeder Cattle futures closed an average of 65¢ lower, from 7¢ to $1.17 lower.
Live Cattle futures closed an average of 19¢ lower, except for unchanged in spot Feb.
Negotiated cash fed cattle trade ranged from very limited on light demand to a standstill through Wednesday afternoon, according to the Agricultural Marketing Service.
Live prices last week were $157/cwt. in the Southern Plains and Nebraska and $158-$160 in the western Corn Belt. Dressed prices were $252.
Choice boxed beef cutout value was $3.80 lower Wednesday afternoon at $280.73/cwt. Select was 23¢ lower at $258.10/cwt
Corn futures closed fractionally higher to 1¢ higher through Sep ’23 and then mostly 2¢ lower
Soybean futures closed 2¢ to 8¢ higher through Aug ‘23 and then mostly 3¢ to 6¢ lower.
Negotiated cash fed cattle trade ranged from mostly limited on light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Live prices last week were $157/cwt. in the Southern Plains and Nebraska and $158-$160 in the western Corn Belt. Dressed prices were $252.
Choice boxed beef cutout value was $1.61 lower Tuesday afternoon at $284.53/cwt. Select was $1.27 lower at $258.33/cwt.
Cattle futures closed narrowly mixed Tuesday, despite early Corn futures momentum.
Feeder Cattle futures closed from an average of 16¢ lower to an average of 26¢ higher.
Live Cattle futures closed an average of 17¢ higher, except for unchanged in spot Feb.
Corn futures closed mostly 1¢ to 3¢ lower.
Soybean futures closed widely mixed.
Cattle futures strengthened Monday with firm to bullish fundamental support.
Feeder Cattle futures closed an average of 84¢ higher.
Live Cattle futures closed an average of 96¢ higher.
Corn and Soybean futures wavered to start the week as traders await the WASDE this week.
Corn futures closed mostly 1¢ lower.
Soybean futures closed mostly 4¢ to 7¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Live prices last week were $157/cwt. in the Southern Plains and Nebraska and $158-$160 in the western Corn Belt. Dressed prices were $252.
Choice boxed beef cutout value was $3.15 higher Monday afternoon at $286.14/cwt. Select was 26¢ higher at $259.60/cwt.
Negotiated cash fed cattle trade was slow on light demand in Nebraska through Friday afternoon, according to the Agricultural Marketing Service. Live prices for the week were $1 lower at $157/cwt., and dressed prices were steady at $252.
Elsewhere, trade ranged from limited on light demand to mostly inactive on very light demand with too few transactions to trend.
For the week, live prices were steady in the Southern Plains at $157 and steady to $1 higher in the western Corn belt at $158-$160, where dressed prices were steady to $2 higher at $252.
Choice boxed beef cutout value was $1.36 higher Friday afternoon at $282.99/cwt. Select was $2.39 higher at $259.34/cwt.
Cattle futures eased lower Friday pressured in part by firming Corn futures and static cash trade.
Feeder Cattle futures closed an average of 65¢ lower, from 22¢ lower at the back to $1.10 lower in spot Jan, except for 22¢ higher in the back contract.
Live Cattle futures closed an average of 44¢ lower (20¢ to 72¢ lower).
Export announcements helped Corn and especially Soybean futures close higher Friday.
Corn futures closed 1¢ higher in the front three contracts and then mostly fractionally mixed to 2¢ lower.
Soybean futures closed 13¢ to 34¢ higher through Jan ‘24 and then mostly 3¢ to 6¢ higher.
Negotiated cash fed cattle trade was light on light to moderate demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. Early live sales were steady with last week at $157/cwt.
Elsewhere, trade was limited on light demand with too few transactions to trend.
Last week, live prices were $158 in Nebraska and $157-$160 in the western Corn Belt. Dressed prices were $250-$252.
Cattle futures traders took a breather Thursday, and likely some profits, following the strong session a day earlier and awaiting more cash direction.
Feeder Cattle futures closed an average of 96¢ lower, from 65¢ lower at the back to $1.67 lower toward the front.
Live Cattle futures closed an average of 36¢ lower, except for 7¢ higher in spot Feb.
Nearby grain and Soybean futures continued to drift lower.
Corn futures closed mostly 1¢ to 4¢ lower.
Soybean futures closed mostly 12¢ lower through Aug ‘23 and then 7¢ to 9¢ lower.
Feeder Cattle futures surged higher Wednesday, buoyed by early-week cash strength and sharply lower grain futures prices. Live Cattle followed along to a lesser degree.
Feeder Cattle futures closed an average of $2.42 higher, from $1.22 higher at the back to $3.45 higher toward the front.
Live Cattle futures closed an average of 50¢ higher.
Grain and soybean futures wilted beneath the weight of paltry U.S. export inspections, the high U.S. dollar and rains in South America.
Corn futures closed 11¢ to 16¢ lower through Jly ‘24 and then mostly 6¢ lower.
Soybean futures closed 6¢ to 9¢ lower through Nov ‘23 and then mostly 2¢ to 4¢ lower.
Negotiated cash fed cattle trade ranged from light on light to moderate demand in the western Corn Belt to inactive on light demand, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were $157/cwt. in the Southern Plains, $158 in Nebraska and $157-$160 in the western Corn Belt. Dressed prices were $250-$252.
Choice boxed beef cutout value was $4.05 lower Wednesday afternoon at $282.89/cwt. Select was $1.77 higher at $256.40/cwt.
Cattle futures closed lower Tuesday, in correction mode after the long holiday weekend, and with softer outside markets.
Live Cattle futures closed an average of 66¢ lower (5¢ lower near the back to $1.05 lower in new spot Feb), not counting newly minted away Jun.
Feeder Cattle futures closed an average of 55¢ lower, from 7¢ lower at the back to $1.45 lower toward the front.
That was despite last week’s stronger cash fed cattle prices and persistent increases in wholesale beef prices.
Last week, live prices were $1 higher in the Southern Plains at $157/cwt., $1-$2 higher in Nebraska at $158 and steady to $3 higher in the western Corn Belt at $157-$160. Dressed prices were $3 higher in Nebraska at $252 and $2-$3 higher in the western Corn Belt at $250-$252. Negotiated cash fed cattle trade was at a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $4.97 higher Tuesday afternoon at $286.95/cwt. Select was $3.70 higher at $254.63/cwt.
Corn and grain futures closed sharply lower in nearby contracts amid the overall risk-off atmosphere of the day, as well as positive rains in South America.
Corn futures closed 3¢ to 8¢ lower through Jly ‘24 and then mostly 2¢ to 4¢ higher.
Soybean futures closed 23¢ to 32¢ lower through Sep ‘23 and then mostly 4¢ to 5¢ lower.
Negotiated cash fed cattle trade was light to moderate on moderate demand in the Southern Plains and Nebraska through Friday afternoon, according to the Agricultural Marketing Service. Trade was light on light to moderate demand in the western Corn Belt.
For the week, live prices were $1 higher in the Southern Plains at $157/cwt., $1-$2 higher in Nebraska at $158 and steady to $3 higher in the western Corn Belt at $157-$160. Dressed prices were $3 higher in Nebraska at $252. Dressed prices in the western Corn Belt the previous week were $248-$249.
Total estimated cattle slaughter last week was 547,000 head, which was 15,000 head fewer than the previous week but 23,000 head more than the same week a year earlier. Year-to-date total estimated cattle slaughter of 33.68 million head was 499,000 head more (+1.5%) than the same time last year. Year-to-date estimated beef production of 27.85 billion lbs. was 369.7 million lbs. more (+1.3%).
Choice boxed beef cutout value was $3.12 higher Friday afternoon at $281.98/cwt. Select was 23¢ higher at $250.93/cwt. Week to week on Friday, Choice was up $10.03.
Cattle futures sagged lower Friday amid a general lack of trader interest and year-end position squaring.
Live Cattle futures closed an average of 71¢ lower (2¢ lower near the back to $3.67 lower in expiring Dec on scant trade).
Feeder Cattle futures closed an average of 36¢ lower, except for unchanged and 2¢ higher in the back two contracts.
Corn futures closed mostly 1¢ to 2¢ lower.
Soybean futures closed 4¢ to 10¢ higher through Sep ‘23 on drier weather in Argentina and hopes of increased exports to China. The rest of the board was mostly 4¢ to 5¢ lower.
Cattle futures continued to gain Thursday with expectations of higher cash prices and softer nearby Corn futures.
Live Cattle futures closed an average of 40¢ higher (5¢ higher near the back to $1.05 higher in the front two contracts).
Feeder Cattle futures closed an average of 49¢ higher.
Negotiated cash fed cattle trade was light on moderate demand in the Southern Plains and Northern Plains through Thursday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some early live sales in the Southern Plains at $157/cwt.
Last week, live prices were $156 in the Southern Plains, $156-$157 in Nebraska and $157 in the western Corn Belt. Dressed prices were $248-$249.
Choice boxed beef cutout value was 55¢ lower Thursday afternoon at $278.86/cwt. Select was $3.42 higher at $250.70/cwt.
Corn futures closed 2¢ to 3¢ lower in the front three contracts and then 1¢ lower to 1¢ higher.
Soybean futures closed 1¢ to 3¢ higher through Sep ‘24 and then fractionally lower.
Cattle futures mostly gained Wednesday, supported by recently stronger wholesale beef prices and expectations from some that cash prices should strengthen this week.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were $156/cwt. in the Southern Plains, $156-$157 in Nebraska and $157 in the western Corn Belt. Dressed prices were $248-$249.
Choice boxed beef cutout value was 63¢ lower Wednesday afternoon at $279.41/cwt. Select was $1.64 higher at $247.28/cwt.
Live Cattle futures closed an average of 57¢ higher (5¢ to 92¢ higher), except for an average of 6¢ lower in two contracts toward the front.
Feeder Cattle futures closed an average of 57¢ higher (5¢ to 92¢ higher).
That was with stronger feed prices.
Corn and Soybean futures gained Wednesday with support from the drier forecast in Argentina and notions that exports could get a boost from China’s easing Covid restrictions.
Corn futures closed 4¢ to 8¢ higher through Jly ‘24 and then mostly fractionally higher to 1¢ higher.
Soybean futures closed 15¢ to 25¢ higher through Jan ‘24 and then mostly 7¢ to 8¢ higher.
Feeder Cattle futures faltered Tuesday, pressured by more feedlot placements than expected in the latest Cattle on Feed report and pricier Corn futures. Feeder Cattle closed an average of 72¢ lower (30¢ to $1.35 lower).
Live Cattle futures paddled on either side of steady, helped along by surging wholesale beef prices and notions that cash trade could be higher this week. They closed from unchanged to an average of 12¢ lower to an average of 11¢ higher.
Choice wholesale beef prices continue to churn higher as buyers scramble to fill orders amid decreased packer production. Choice boxed beef cutout value was $8.09 higher Tuesday afternoon at $280.04/cwt. Select was 17¢ higher at $245.64/cwt. The Choice-Select spread was a whopping $34.40.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $156/cwt. in the Southern Plains, $156-$157 in Nebraska and $157 in the western Corn Belt. Dressed prices were $248-$249.
The five-area direct weighted average fed steer price last week was 57¢ higher on a live basis at $156.25/cwt. The weighted average steer price in the beef was 90¢ higher at $248.70.
Corn futures surged higher Tuesday, buoyed by the weaker U.S. dollar, weather concerns in South America and perhaps some year-end positioning. They closed 5¢ to 8¢ higher through Dec ‘23 and then mostly 3¢ to 4¢ higher.
Soybean futures closed 3¢ to of 6¢ higher through Aug ‘23 and then mostly fractionally lower to 2¢ lower.
Negotiated cash fed cattle trade had a firmer feel through Friday afternoon.
Live prices in the Texas Panhandle were $1 higher at $156/cwt.
Although too few to trend, there were some live sales in Kansas at $156 and at $157 in the western Corn Belt. Prices the previous week were $155 in Kansas and $155-$157 in the western Corn Belt where dressed prices were $248.
For the week, dressed prices in Nebraska were $1 higher at $249. Live prices there the previous week were $155-$157.
Choice Boxed beef cutout value was $6.74 higher Friday afternoon at $271.95/cwt. Select was $3.66 higher at $245.47/cwt. Both were helped by packers throttling back production.
Total weekly estimated cattle slaughter was 562,000 head, which was 63,000 head fewer than the previous week. However, the estimated total was 75,000 head more than the same week last year. Year-to-date total estimated cattle slaughter of 33.13 million head was 479,000 head more (+1.5%) more than a year earlier. Year-to-date estimated beef production of 27.40 billion lbs. was 363 million lbs. more (+1.3%) than the same time last year.
Cattle futures closed mainly higher Friday, supported by the higher tone to cash prices and the bounce in wholesale beef prices.
Live Cattle futures closed an average of 51¢ higher (20¢ to $1.00 higher), except for unchanged and 17¢ lower in the back two contracts.
Feeder Cattle futures closed an average of 24¢ higher, except for an average of 18¢ lower in the back two contracts.
Grain and Soybean futures found some technical support Friday with positive export news and positioning ahead of the holiday.
Corn futures closed 3¢ to of 5¢ higher through the front three contracts and then mostly fractionally higher.
Soybean futures closed 10¢ to of 14¢ higher through Jan ‘24 and then mostly 6¢ to 8¢ higher.
Negotiated cash fed cattle trade was limited on light demand through Thursday afternoon, according to the Agricultural Marketing Service.
Although too few to trend, there were some live sales in the Southern Plains at $155/cwt. and in the western Corn Belt at $157. There were a few dressed trades in Nebraska at $249.
Last week, live prices were $155/cwt. in the Southern Plains and $155-$157 in Nebraska and the western Corn Belt. Dressed prices were $248.
Choice Boxed beef cutout value was 35¢ higher Thursday afternoon at $265.21/cwt. Select was $5.52 higher at $241.81/cwt.
Cattle futures mostly maintained the previous session’s strong gains.
Live Cattle futures closed an average of 18¢ higher, except for an average of 36¢ lower in the front two contracts.
Feeder Cattle futures closed an average of 35¢ higher.
Corn futures closed mostly 1¢ lower.
Soybean futures closed 10¢ to 13¢ lower through Aug ‘23 and then mostly 5¢ to 6¢ lower.
Cattle futures surged higher Wednesday, led by Live Cattle, supported by recent wholesale boxed beef strength, performance-depressing winter weather forecast across the Northern Plains, as well as bullish expectations for Friday’s Cattle on Feed report. Evidence of tightening cattle numbers also continues to grow.
Live Cattle futures closed an average of 98¢ higher (25¢ higher at the back to $2.12 higher toward the front).
Feeder Cattle futures closed an average of 56¢ higher.
That was with Corn futures closing mostly 6¢ to 10¢ higher through Jly ‘24, supported by the drier outlook in South America. Soybean futures closed 1¢ to 4¢ higher through Nov ‘23 and then mostly 2¢ to 5¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on 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 $155-$157 in Nebraska and the western Corn Belt. Dressed prices were $248.
Choice Boxed beef cutout value was 19¢ lower Wednesday afternoon at $264.86/cwt. Select was $2.39 higher at $236.29/cwt.
Feeder Cattle futures retraced the previous session’s losses, perhaps with support from early positioning ahead of Friday’s monthly Cattle on Feed report (see below). They closed an average of 96¢ higher (60¢ to $1.52 higher).
Live Cattle futures softened an average of 21¢ lower, except for an average of 17¢ higher in the back three contracts. Pressure included reduced packer production last week and likely again this week, diluting some opportunity for cash prices to advance.
Corn futures closed 1¢ to 4¢ higher through May ‘24 and then mostly 1¢ to 2¢ lower.
Soybean futures closed 11¢ to 17¢ higher through Sep ‘23 and then mostly 7¢ to 8¢ higher.
Choice wholesale beef prices continued their recent surge higher, due in part to the aforementioned reduction in packer production. Choice Boxed beef cutout value was $1.22 higher Tuesday afternoon at $265.05/cwt. However, Select was $4.67 lower at $233.90/cwt.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $155/cwt. in the Southern Plains and $155-$157 in Nebraska and the western Corn Belt. Dressed prices were $248.
Recently stronger wholesale beef prices and last week’s mostly steady-to-firmer cash fed cattle trade helped Live Cattle futures edge an average of 15¢ higher Monday.
Despite lower Corn futures, Feeder Cattle futures meandered to a mostly lower close Monday, presumably pressured in part by the lack of cash direction with many auction barns closed for the holidays. Feeder Cattle futures closed an average of 84¢ lower (15¢ to $1.67 lower), except for an average of 35¢ higher in the back two contracts.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $155/cwt. in the Southern Plains and $155-$157 in Nebraska and the western Corn Belt. Dressed prices were $248.
Choice Boxed beef cutout value was $1.00 higher Monday afternoon at $263.83/cwt. Select was $3.12 higher at $238.57/cwt.
Corn futures weakened on positive South American moisture. They closed 2¢ to 5¢ lower through May ‘24 and then mostly fractionally mixed.
Soybean futures closed 12¢ to 20¢ lower through Sep ’23 and then mostly 2¢ to 8¢ lower.
Firmer late-week cash prices and the bounce higher in wholesale beef prices helped push Cattle futures mostly higher on Friday.
Choice Boxed beef cutout value was $8.53 higher Friday afternoon at $262.83/cwt. Select was $6.94 higher at $235.45/cwt.
Feeder Cattle futures closed an average of 26¢ higher (2¢ to 72¢ higher), except for 12¢ lower in Apr. They closed an average of 24¢ lower week to week, except for an average of 30¢ higher in two away contracts.
Live Cattle futures closed an average of 48¢ higher (5¢ higher at the back to $1.00 higher in spot Dec, except for unchanged in away Feb. Week to week, they closed from unchanged to an average of 65¢ higher through the front four contracts week to week on Friday (22¢ to $1.37 higher), and then an average of 26¢ lower.
Negotiated cash fed cattle trade ranged from light on moderate demand to mostly inactive on light to moderate demand through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, live prices were steady to $2 higher in the Texas Panhandle at $155/cwt., steady to $1 lower in Kansas at $155 and $1 lower to $1 higher in Nebraska and the western Corn Belt at $155-$157. Dressed prices were $1-$2 higher at $248.
Estimated total weekly cattle slaughter last week was 629,000 head, which was 23,000 head fewer than the previous week and 29,000 head fewer than the same week a year earlier. Year-do-date estimated total cattle slaughter of 32.58 million head was 412,000 head more (+1.3%) than the same time last year. Year-to-date estimated beef production of 26.93 billion lbs. was 307.7 million lbs. more (+1.1%) than a year earlier.
Corn futures closed mostly fractionally lower to 1¢ lower, but the front six contracts closed an average of 6’5¢ higher week to week on Friday.
On Friday, Soybean futures closed 3¢ to 7¢ higher through Sep ’23 and then mostly 1¢ to 2¢ lower.
Cattle feeder patience paid off Thursday as packers paid mostly steady to higher money.
Negotiated cash fed cattle trade was slow on moderate demand in the Southern Plains through Thursday afternoon at $155/cwt. That was steady to $2 higher in the Texas Panhandle but steady to $1 lower in Kansas.
Trade was slow to moderate on moderate demand in Nebraska and the western Corn Belt. Dressed prices were $248, which was $1 higher in Nebraska and $1-$2 higher in the western Corn Belt, where live prices were unevenly steady at $155-$157. Live prices in Nebraska last week were $156-$158.
In Colorado, trade was mostly inactive on very light demand, with too few transactions to trend, according to the Agricultural Marketing Service. Live prices there last week were $157.
Choice Boxed beef cutout value was $4.23 higher Thursday afternoon at $254.30/cwt. Select was $1.82 higher at $228.51/cwt.
Bearish outside markets, firmer Corn futures and light trade helped pressure Cattle futures Thursday.
Feeder Cattle futures closed an average of 50¢ lower.
Live Cattle futures closed an average of 45¢ lower (7¢ to 85¢ lower).
Corn futures closed mostly 1¢ to 2¢ higher.
Soybean futures closed mostly 3¢ to 8¢ lower.
Cattle futures ran out of steam Wednesday as traders were apparently waiting for more cash direction.
Feeder Cattle futures closed an average of 24¢ lower.
Live Cattle futures closed an average of 34¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to mostly a standstill through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were at $153-$155/cwt. in the Texas Panhandle, $155-$156 in Kansas, $156-$158 in Nebraska and $156 in the western Corn Belt. Dressed prices were $246-$247.
Choice Boxed beef cutout value was $4.88 lower Wednesday afternoon at $250.07/cwt. Select was $1.23 higher at $226.69/cwt.
Corn futures closed 2¢ to 4¢ lower through Jly ‘23 and then mostly fractionally mixed.
Soybean futures closed narrowly mixed, mostly 1¢ lower to 1¢ higher.
Higher outside markets and recently surging wholesale beef prices helped Cattle futures mostly extend gains Tuesday.
Feeder Cattle futures closed an average of 36¢ higher.
Live Cattle futures closed narrowly mixed, from an average of 24¢ higher in the front four contracts to an average of 17¢ lower through the back, except for unchanged in Aug.
Choice Boxed beef cutout value was $2.07 lower Tuesday afternoon at $254.95/cwt. Select was 22¢ lower at $225.46/cwt. But, Choice was $3.31 higher in the morning report and the previous day’s CME Boxed Beef Index was $1.52 higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to mostly a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were at $153-$155/cwt. in the Texas Panhandle, $155-$156 in Kansas, $156-$158 in Nebraska, $157 in Colorado and $156 in the western Corn Belt. Dressed prices were $246-$247.
Corn futures closed mostly 1¢ lower.
Soybean futures closed 15¢ to 19¢ higher through Aug ‘23, and then 4¢ to 8¢ higher.
Cattle futures mostly edged higher Monday with carryover support from last week’s strong close and the bounce higher in wholesale beef prices.
Choice Boxed beef cutout value was $8.09 higher Monday afternoon at $257.02/cwt. Select was $4.42 higher at $225.68/cwt.
Live Cattle futures closed an average of 39¢ higher.
Feeder Cattle futures closed an average of 14¢ higher, except for unchanged to 27¢ lower in three contracts.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were at $153-$155/cwt. in the Texas Panhandle, $155-$156 in Kansas, $156-$158 in Nebraska and $156 in the western Corn Belt. Dressed prices were $246-$247.
The five-area direct weighted average fed steer price last week was 63¢ lower at $155.79/cwt. The average steer price in the beef was $1.73 lower at $246.82.
Corn futures closed 3¢ to 10¢ higher. Reportedly, bargain hunting was a primary driver.
Soybean futures closed 18¢ to 23¢ lower through Sep ‘23, and then mostly 10¢ to 14¢ lower., pressured by positive rains in South America.
Higher wholesale beef values and some stronger cash prices in the North helped lift Live Cattle futures Friday, which drug Feeder Cattle along.
Choice Boxed beef cutout value was $1.65 higher Friday afternoon at $248.93/cwt. Select was 71¢ higher at $221.26/cwt
Live Cattle futures closed an average of 84¢ higher (2¢ to $1.62 higher), except for 7¢ lower in the back contract.
Feeder Cattle futures closed an average of 29¢ higher.
Negotiated cash fed cattle trade was light to moderate on moderate demand in the Southern Plains through Friday afternoon, according to the Agricultural Marketing Service. Prices were mixed with live sales in the Texas Panhandle steady to $2 lower at $153-$155/cwt. and steady to $1 higher in Kansas at $155-$156.
Trade was light on moderate demand in Colorado at steady money of $157.
Elsewhere, trade was light on light to moderate demand with too few transactions to trend. For the week, live prices were $1-$3 lower in Nebraska at $156 and steady in the western Corn Belt at $157-$158. Dressed prices were $1-$2 lower in Nebraska at $247 but steady in the western Corn Belt at $249.
Estimated total cattle slaughter last week was 652,000 head, which was 11,000 head fewer than the previous week and 16,000 head fewer than the same week last year. Estimated total year-to-date cattle slaughter of 31.95 million head was 443,000 more (+1.4%) than the same time last year. Year-to-date estimated beef production of 26.41 billion lbs. was 334.5 million lbs. more (+1.3%).
Corn futures closed mostly 1¢ to 2¢ lower, except for 1¢ to 2¢ higher in the front three contracts.
Soybean futures closed 2¢ lower through Aug ‘23, and then fractionally lower to 1¢ lower.
Cattle futures firmed and gained Thursday with more trader interest and perhaps more confidence wholesale price volatility may be gentler.
Feeder Cattle futures closed an average of $1.62 higher ($1.15 to $2.75 higher).
Live Cattle futures closed an average of 42¢ higher (10¢ to 57¢ higher), except for 10¢ lower in the back contract.
Corn futures closed mostly 1¢ lower, except for 1¢ to 4¢ higher in the front four contracts.
Soybean futures closed mixed, 2¢ to 14¢ higher through Sep ’23 and then mostly 1¢ to 3¢ lower.
Negotiated cash fed cattle trade ranged from light on moderate demand in the Texas Panhandle to limited on moderate demand in the other regions through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Live prices were $1 lower in Nebraska on Wednesday at $156/cwt. and dressed prices were $1-$2 lower at $247.
Last week, live prices were at $155 in the Southern Plains and $157-$158 in the western Corn Belt where dressed prices were $248-$249.
Choice Boxed beef cutout value was $1.68 lower Thursday afternoon at $247.28/cwt. Select was 78¢ higher at $220.55/cwt
Bearish sentiment from the sharp volatility in Choice boxed beef cutout values helped pressure negotiated cash fed cattle prices lower Wednesday. Live prices in Nebraska were $1 lower on a live basis at $156/cwt. and $1-$2 lower in the beef at $247, on slow trade and light to moderate demand.
Elsewhere, trade was limited on light demand with too few transactions to trend, according to the Agricultural Marketing Service. Last week, live prices were $155 in the Southern Plains, $157 in Colorado and $157-$158 in the western Corn Belt, where dressed prices were $249.
Choice Boxed beef cutout value was $6.31 higher through Wednesday afternoon at $248.96/cwt. It was $6.62 lower on Monday. Select was 63¢ higher at $219.66/cwt.
Live Cattle futures found some footing Wednesday, while a bounce in Corn futures weighed on Feeder Cattle.
Feeder Cattle futures closed an average of 56¢ lower (25¢ to 90¢ lower).
Live Cattle futures closed an average of 35¢ higher, except for unchanged to 12¢ lower in four contracts.
Corn futures closed mostly 2¢ to 3¢ higher.
Soybean futures closed mostly 11¢ to 15¢ higher.
Cattle futures and some other ag commodities lost ground Tuesday with much of the pressure apparently tied to recessionary fears in outside markets. The recent sharp decline in wholesale beef prices didn’t help.
Feeder Cattle futures closed an average of $2.08 lower ($1.75 to $2.25 lower).
Live Cattle futures closed an average of $1.69 lower ($1.32 to $2.20 lower).
Corn futures closed mostly 1¢ to 3¢ lower.
Soybean futures closed 14¢ to 17¢ higher through Aug ‘23 and then mostly 4¢ to 6¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were at $155/cwt. in the Southern Plains, $157 in Nebraska, $157 in Colorado and $157-$158 in the western Corn Belt. Dressed prices were $248-$249.
Choice Boxed beef cutout value was 66¢ lower Tuesday afternoon at $242.65/cwt. Select was $1.97 lower at $219.14/cwt.
Cattle futures gained again Monday, supported by further erosion in Corn futures.
Feeder Cattle futures closed an average of 79¢ higher (27¢ to $1.32 higher).
Live Cattle futures closed mixed, from an average of 7¢ lower to an average of 11¢ higher.
Corn futures closed mostly 2¢ to 6¢ lower.
Soybean futures closed fractionally mixed 1¢ lower.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
For the week, live prices were at $155/cwt. in the Southern Plains, $157-$159 in Nebraska, $157 in Colorado and $157-$158 in the western Corn Belt. Dressed prices were $248-$249.
Choice Boxed beef cutout value was $6.62 lower Monday afternoon at $243.31/cwt. Select was $3.45 lower at $221.11/cwt.
Negotiated cash fed cattle trade ranged from limited on light demand to mostly inactive through Friday afternoon, with too few to trend, according to the Agricultural Marketing Service.
For the week, live prices were steady to $1 higher in the Southern Plains at $155/cwt., steady to $1 higher in Nebraska at $157-$159 and $1-$2 higher in the western Corn Belt at $157-$158. Dressed prices were $4 higher at $249.
Choice Boxed beef cutout value was $3.64 lower Friday afternoon at $249.93/cwt. Select was 44¢ lower at $224.56/cwt.
Cattle futures gained more ground Friday, led by Feeder Cattle and supported by lower Corn futures.
Feeder Cattle futures closed an average of 88¢ higher (65¢ to $1.37 higher).
Live Cattle futures closed an average of 30¢ higher.
Corn futures closed 9¢ to 15¢ lower through the front four contracts and then mostly 1¢ to 3¢ lower.
Soybean futures closed mostly 8¢ to 11¢ higher.
Feeder Cattle futures bounced an average of $2.01 higher Wednesday, helped along by lower Corn futures and bullish outside markets. Live Cattle futures closed an average of 53¢ higher. Corn futures closed mostly 3¢ to 5¢ lower. Soybean futures closed mostly 3¢ to 5¢ higher, supported by stronger Crude Oil prices. Negotiated cash fed [...]
Cattle futures firmed and closed mostly higher Tuesday, supported by recently lower Corn futures and cash fed cattle demand strength. Feeder Cattle futures closed an average of 53¢ higher (7¢ to $1.12 higher), except for an average of 37¢ lower in the back three contracts. Live Cattle futures closed an average of 18¢ higher. [...]
Lackluster interest in Cattle futures carried over from last week. Feeder Cattle futures closed an average of 92¢ lower. Live Cattle futures closed an average of 39¢ lower. Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service. Last [...]
Negotiated cash fed cattle trade was limited on light demand in all regions through Friday afternoon, according to the Agricultural Marketing Service, with too few transactions to trend. For the week, live prices were $4-$5 higher in the Texas Panhandle at $154-$155/cwt., $3-$5 higher in Kansas at $155, $3-$4 higher in Nebraska at $157-$158 [...]
Packers were aggressive buyers Wednesday, pushing negotiated cash fed cattle prices $3-$5/cwt. higher on a live basis with moderate trade and good demand in all regions, according to the Agricultural Marketing Service. Live prices were mostly $4-$5 higher in the Texas Panhandle at $154-$155, $3-$5 higher in Kansas at $154 to mostly $155, $3 [...]
Cattle futures traded mostly narrowly lower Tuesday after early support, pressured by holiday-lightened trade. Feeder Cattle futures closed an average of 45¢ lower, except for 15¢ higher in May. Live Cattle futures closed an average of 15¢ lower, except for unchanged to 25¢ higher in three contracts. Negotiated cash fed cattle trade ranged from [...]
Cattle futures closed higher Monday, buoyed by the bullish Cattle on Feed report, stronger cash prices last week and weaker Corn futures on the day. Feeder Cattle futures closed an average of $1.65 higher. Live Cattle futures closed an average of 85¢ higher (47¢ to $1.17 higher). Corn futures closed 5¢ to 8¢ lower [...]
Cattle futures edged higher Friday, helped along by firm to stronger cash fed cattle prices and likely anticipation of a bullish Cattle on Feed report. Feeder Cattle futures closed an average of 54¢ higher. Live Cattle futures closed an average of 44¢ higher. Negotiated cash fed cattle trade ranged from limited on light demand [...]
Cattle futures closed higher Thursday, helped along by lower Corn futures through much of the session, firm to stronger cash fed cattle prices and likely anticipation of a bullish Cattle on Feed report. The trend continued through mid-day on Friday. Feeder Cattle futures closed an average of $1.79 higher. Live Cattle futures closed an [...]
Negotiated cash fed cattle trade got off to a slow start for the week on Wednesday, but a start none the less. Established trade was steady at $150 in the Texas Panhandle on light demand and slow to limited trade. Although too few to trend, there were some live sales in Kansas at $150 [...]
Grain futures gained late in Tuesday’s session, apparently on reports that Russian missiles landed in Poland, causing fatalities. Corn futures closed mostly 4¢ to 9¢ higher and Soybean futures closed mostly 12¢ to 16¢ higher. Feeder Cattle futures closed an average of $1.84 lower. Live Cattle futures closed narrowly mixed, from an average of [...]
Feeder Cattle futures closed mixed on Monday, from an average of 27¢ lower to unchanged to an average of 48¢ higher. They were supported by weaker Corn futures but challenged by softer Live Cattle futures which closed an average of 59¢ lower, except for 5¢ higher in spot Dec. Corn futures closed mostly 2¢ [...]
Cattle futures sagged on Friday. Pressure included higher Corn and Soybean futures, sharply lower boxed beef prices and static cash prices. Still, it was hard to square the degree of decline with fundamentals. Feeder Cattle futures closed an average of $2.13 lower ($1.32 lower at the back to $3.12 lower toward the front). Live [...]
Grain and Soybean futures closed lower Thursday, apparently due in part to more money flowing into equities for the day. Corn futures closed 6¢ to 11¢ lower through Jly ‘24. Soybean futures closed mostly 20¢ to 29¢ lower. Softer grain futures helped boost Cattle futures. Feeder Cattle futures closed an average of $1.52 higher [...]
Negotiated cash fed cattle trade was slow on light demand through Wednesday afternoon, according to the Agricultural Marketing Service. Live prices were steady to $1 higher in the Texas Panhandle at $150.00/cwt. and steady in Kansas at $150. Last week, live prices were $153 in Nebraska and the western Corn Belt. Dressed prices were [...]
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service. Last week, live prices were $149-$150/cwt. in the Texas Panhandle, $150 in Kansas and $153 in Nebraska and the western Corn Belt. Dressed prices were [...]
Live Cattle futures closed higher Monday, supported by apparent front-end currentness. They were up an average of 59¢ higher, except for down 33¢ and unchanged in the back two contracts. Strength in Live Cattle and softer Corn futures helped Feeder Cattle close an average of 53¢ higher (30¢ to 70¢ higher). Corn futures closed mixed, [...]
Cattle futures closed mixed Friday with little added short-term support and plenty of uncertainty. Feeder Cattle futures closed mixed, from an average of 20¢ lower to an average of 51¢ higher. Live Cattle futures closed mixed from an average of 24¢ lower to an average of 11¢ higher. Corn futures closed mostly 1¢ to [...]
Negotiated cash fed cattle trade was slow on light demand through Thursday afternoon, according to the Agricultural Marketing Service. Live sales were steady in the Southern Plains at $150/cwt. and steady with the prior week in the western Corn Belt at $152-$153. Dressed prices in the western Corn Belt last week were $240. Although [...]
Feeder Cattle futures gained Wednesday on declining Corn futures. They closed an average of $1.18 higher (77¢ to $2.00 higher). Corn and Wheat futures reversed direction as Russia reversed course and claimed it is rejoining the initiative that enabled Ukraine exports from the Black Sea. Corn futures closed 8¢ to 10¢ lower through Jly [...]
Cattle futures lost steam after early support Tuesday, as grain and soybean futures continued to gain and traders awaited weekly cash direction. Corn futures closed mostly 3¢ to 6¢ higher. Kansas City Wheat futures closed mostly 9¢ to 11¢ higher. Soybean futures closed 22¢ to 28¢ higher through Aug ‘23. Feeder Cattle futures closed [...]
Russia's announcement over the weekend that it is suspending its participation in the Black Sea Grain Initiative (BSGI) propelled grain futures significantly higher Monday. The BSGI, brokered by the United Nations earlier this year, enabled resumption of Ukraine grain exports via the Black Sea as Russia's war on Ukraine continued. Corn futures closed 8¢ [...]
Negotiated cash fed cattle prices continued to gain last week amid aggressive cattle slaughter, resilient beef demand, and narrowing supplies. For the week, live prices were $2 higher in the Southern Plains at $150/cwt., $1-$2 higher in Nebraska at $152-$153 and $1-$3 higher in the western Corn Belt at $151-$153. Dressed prices were $4 [...]
Negotiated cash fed cattle trade was slow on light demand through Thursday afternoon, according to the Agricultural Marketing Service. Live prices were $2 higher in the Southern Plains at $150/cwt. Although too few to trend, there were some early live sales at $152 in Nebraska and $151-$152 in the western Corn Belt; early dressed [...]
After retrenching in the previous session, Cattle futures mostly gained Wednesday with expectations of higher cash prices again this week. Feeder Cattle futures closed an average of 81¢ higher, except for 17¢ lower in waning spot Oct. Live Cattle futures closed an average of 28¢ higher, except for unchanged to an average of 16¢ [...]
Recent momentum in Cattle futures stalled Tuesday amid higher Corn futures, likely profit taking and apparently waiting to see if this week's cash fed cattle trade supports another step higher. Feeder Cattle futures closed an average of $1.60 lower, except for 92¢ higher in waning spot Oct. Live Cattle futures closed an average of [...]
Cattle futures continued to climb Monday on higher cash fed cattle prices, stronger wholesale beef values and Friday’s friendly Cattle on Feed report. Feeder Cattle futures closed an average of $1.23 higher (40¢ to $1.57 higher). Live Cattle futures closed an average of $1.18 higher. Negotiated cash fed cattle trade ranged from mostly inactive [...]
Negotiated cash fed cattle trade was inactive on very light demand through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service. For the week, live prices were $3 higher in the Southern Plains at $148/cwt., $3-$4 higher in Nebraska at $151-$152 and $2-$4 higher in the western Corn Belt [...]
Snug supplies and demand-based aggressive slaughter helped negotiated cash fed cattle prices pull ahead with more gusto this week. Live prices were $3 higher in the Texas Panhandle at $148/cwt. on moderate trade and light to moderate demand, according to the Agricultural Marketing Service. Prices were $4 higher in Nebraska at mostly $152 on [...]
Cattle futures extended gains Wednesday, buoyed by stronger wholesale beef prices, upward cash momentum and weaker Corn futures. Feeder Cattle futures closed an average of 89¢ higher (25¢ to $1.65 higher). Live Cattle futures closed an average of $1.20 higher (88¢ to $1.83 higher). Choice Boxed beef cutout value was $2.61 higher Wednesday afternoon [...]
Stronger cash fed cattle prices last week, the prospect for further gains this week and recently higher wholesale beef prices helped Cattle futures extend gains Tuesday. Feeder Cattle futures closed an average of $1.73 higher, except for 7¢ higher in spot Oct. Live Cattle futures closed an average of 50¢ higher (15¢ to 60¢ [...]
Cattle futures caught some wind Monday as traders seemed to focus more on the fundamentals, including recently stronger cash fed cattle prices and the likelihood that wholesale beef prices will begin their seasonal advance. Feeder Cattle futures closed an average of $2.00 higher (95¢ higher in spot to $2.60 higher). Live Cattle futures closed [...]
Volatile and bearish outside markets weighed on most commodities Friday as shorter supplies battle with demand concerns stemming from steamy inflation, higher interest rates and slowing economic growth. Feeder Cattle futures closed an average of 79¢ lower (25¢ lower at the back to $1.32 lower toward the front). Live Cattle futures closed an average [...]
Negotiated cash fed cattle trade ranged from limited on light demand in the Southern Plains to slow on light to moderate demand in the North through Thursday afternoon, according to the Agricultural Marketing Service. So far this week, live prices are $1 higher in the Southern Plains at $145/cwt., steady to $2 higher in [...]
Weekly negotiated cash fed cattle trade remained undeveloped through Wednesday afternoon, according to the Agricultural Marketing Service. Last week, live prices were $144/cwt. in the Southern Plains, $145-$148 in Nebraska and $145-$149 in the western Corn Belt. Dressed prices were $230. Cattle futures edged higher, though, with the mainly friendly World Agricultural Supply and [...]
Feeder Cattle futures bounced an average of $2.34 higher Tuesday, regaining some of the recent losses. Support included Corn futures closing 3¢ to 5¢ lower through Sep ’23 and then mostly 1¢ lower. Feeder Cattle also received support from Live Cattle futures closing an average of 91¢ higher (22¢ higher at the back to [...]
Surging Corn futures prices took Feeder Cattle futures down a peg Monday. Feeder Cattle futures closed an average of $2.10 lower (80¢ lower toward the back to $2.75 lower toward the front). Grain futures spiked higher with heightened concerns about Russia’s ongoing war on Ukraine. Corn futures closed 10¢ to 15¢ higher through Sep [...]
Negotiated cash fed cattle trade was limited on light demand in all major cattle feeding regions through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service. For the week, live prices were $1 higher in the Southern Plains at $143/cwt. and $1-$3 higher in Nebraska and the western Corn [...]
Negotiated cash fed cattle trade ranged from limited on light demand in the western Corn Belt to light to moderate on moderate demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. So far this week, live prices are $1 higher in the Southern Plains at $143/cwt. and $1-$2 higher [...]
Cattle futures rose Wednesday as fundamental strength returned. Feeder Cattle futures closed an average of $1.52 higher (57¢ higher at the back to $2.12 higher toward the front). Live Cattle futures closed an average of 46¢ higher. Negotiated cash fed cattle trade was limited on light demand in all major cattle feeding regions through [...]
Feeder Cattle futures closed an average of 64¢ lower Tuesday, pressured by higher Corn futures. Live Cattle futures closed narrowly mixed, from an average of 24¢ lower to an average of 17¢ higher, supported by wholesale beef prices showing signs of reaching the seasonal bottom. Choice Boxed beef cutout value was $2.10 higher Tuesday [...]
Cattle futures bounced back Monday, helped along by higher wholesale beef values. Choice Boxed beef cutout value was $2.19 higher Monday afternoon at $245.94/cwt. Select was $1.18 higher at $221.31/cwt. Feeder Cattle futures closed an average of $1.23 higher. Live Cattle futures closed an average of 89¢ higher. Negotiated cash fed cattle trade was [...]
Feeder Cattle futures tanked Friday with pressure from Corn futures surging in response to USDA's Grain Stocks report Friday (see below). Corn futures closed 5¢ to 8¢ higher through Jly '23 and then 2¢ to 3¢ higher. Feeder Cattle futures closed an average of $2.68 lower. Live Cattle futures closed an average of 53¢ [...]
Cattle futures finally rallied back Thursday, supported by oversold conditions. Feeder Cattle futures closed and average of $2.19 higher. Live Cattle futures closed an average of $1.02 higher. Negotiated cash fed cattle trade was limited on light demand in all major cattle feeding regions through Thursday afternoon with too few transactions to trend, according [...]
Negotiated cash fed cattle trade was active on very good demand in Nebraska Wednesday with live prices steady at $144-$145/cwt. and dressed prices mainly steady to $4 lower at $228. Trade was slow on moderate demand in the western Corn Belt, where there were a few live sales at $144-$145 and a few in [...]
Cattle futures continued lower with outside markets Tuesday. Feeder Cattle futures closed an average of $1.02 lower. Live Cattle futures closed an average of 67¢ lower. Negotiated cash fed cattle trade was steady in the Southern Plains Tuesday at $143/cwt. on slow trade and moderate demand. Elsewhere, trade was inactive on light demand. Last [...]
Cattle futures weakened further Monday, along with other commodities and financial markets as fears about a contracting economy, high unabated inflation and increasing interest rates ruled the day. Feeder Cattle futures closed an average of $1.75 lower ($1.20 lower toward the front to $2.40 lower in the back contract. Live Cattle futures closed an [...]
Cattle futures softened again Friday amid sharply lower outside markets, rising interest rates and perhaps some prescient defensiveness ahead of the monthly Cattle on Feed report. Feeder Cattle futures closed an average of 61¢ lower, except for an average of 28¢ higher in two contracts. Live Cattle futures closed an average of 89¢ lower. [...]
Negotiated cash fed trade ranged from slow to moderate on moderate demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. Prices so far this week are $1 higher at $143/cwt. Elsewhere, trade was moderate on moderate to good demand. Dressed trade in Nebraska was $2-$5 higher at $228-$232. Live [...]
Cattle futures weakened Wednesday with likely spillover pessimism from lower outside markets, the lack of cash direction and perhaps some defensiveness in the face of Friday’s Cattle on Feed report. Feeder Cattle futures closed an average of 74¢ lower, except for 57¢ higher in the back contract. Live Cattle futures closed an average of [...]
Feeder Cattle futures gave back the previous session’s gains and then some Tuesday, pressured by higher Corn futures. Feeder Cattle futures closed an average of $1.80 lower Tuesday (35¢ lower at the back to $2.27 lower toward the front), giving back the previous session’s gains and then some. Much of the pressure came from [...]
Cattle futures rose Monday, helped along by last week’s slightly stronger cash fed cattle prices. Feeder Cattle futures closed an average of 87¢ higher. Live Cattle futures closed an average of 37¢ higher., except for 7¢ lower in near Dec. Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to [...]
Howdy to all, this is Wes Ishmael with your Cattle Current Market Update for the late weekend and Monday morning the 19th of September. Estimated total cattle slaughter last week was 667,000 head, which was 63,000 more than the previous holiday-shortened week. Year-to-date estimated total cattle slaughter of 24.0 million head was 328,000 (+1.4%) [...]
Steady to higher cash prices helped lift Live Cattle futures an average of 64¢ higher (22¢ to $1.27 higher) on Thursday. Negotiated cash fed cattle trade was slow on light demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. So far this week, live prices are $1 higher at [...]
Feeder Cattle futures closed an average of 52¢ higher Wednesday as Corn Futures retreated 8¢ to 10¢ lower through Jly '23 and then mostly 2¢ to 4¢ lower. Soybean futures closed mostly 18¢ to 23¢ lower. Live Cattle futures closed an average of 26¢ lower except for unchanged to an average of 12¢ higher [...]
Sharply lower outside markets pressured by higher inflation than expected compounded the previous day’s lower corn yield estimates, weighing on Cattle futures. Feeder Cattle futures closed an average of $1.88 lower ($1.10 to $2.60 lower). Live Cattle futures closed an average of 77¢ lower. That was with Corn futures retreating on the same macroeconomic [...]
Corn futures climbed 9¢ to 13¢ through July '23 Monday, in response to the latest monthly World Agricultural Supply and Demand Estimates, which reduced expected production (see below). Soybean futures closed 60¢ to 76¢ higher through Jly ‘23 and then mostly 32¢ to 40¢ higher. Feeder Cattle futures closed an average of $1.32 lower [...]
Corn futures closed 11¢ to 24¢ higher through Sep '23, then 6¢ to 8¢ higher on expectations Monday's USDA crop report will show a reduction in yields. Soybean futures closed mostly 17¢ to 26¢ higher. Feeder Cattle futures closed an average of 66¢ higher, helped along by strong cash demand. Live Cattle futures closed [...]
Feeder Cattle futures edged an average of 36¢ higher Thursday, supported by weaker Corn futures that were mostly 2¢ lower. Live Cattle futures closed mixed, from an average of 27¢ lower to an average of 8¢ higher with pressure from the steady to lower cash trade. Live prices were steady in the Texas Panhandle [...]
Cattle futures lost some steam Wednesday with the lack of cash direction and likely profit taking. Feeder Cattle futures closed an average of $1.34 lower (70¢ lower at the back to $2.15 lower at the front). Live Cattle futures closed an average of 59¢ lower. Negotiated cash fed cattle trade continued at a standoff [...]
Stronger recent wholesale beef values helped lift Cattle futures Tuesday. Choice Boxed beef cutout value was $1.05 higher through Tuesday afternoon at $260.47/cwt. Select was 72¢ higher at $239.30/cwt. Live Cattle futures closed an average of 79¢ higher (50¢ higher at the front to $1.37 higher at the back). Feeder Cattle futures closed an [...]
Cattle futures extended gains Friday with support from higher wholesale beef prices and despite higher Corn futures. Feeder Cattle futures closed an average of 61¢ higher (25¢ at the back to 75¢ higher). Live Cattle futures closed an average of 92¢ higher (25¢ higher at the back to $1.75 higher at the front). Choice [...]
Sharply lower Corn futures helped lift Feeder Cattle futures an average of $1.15 higher (70¢ to $1.37 higher). Corn and Soybean futures continued lower Thursday as it appeared funds continued to liquidate positions on concerns about slowing demand. Corn futures closed mostly 11¢ to 12¢ lower. Soybean futures closed mostly 19¢ to 27¢ lower. [...]
Sluggish cash trade with weaker undertones and recent significant declines in wholesale beef value pressured Cattle futures Wednesday. Feeder Cattle futures closed an average of 40¢ lower, except for an average of 24¢ higher in the front two contracts. Live Cattle futures closed an average of 77¢ lower (32¢ to $1.32 lower). Negotiated cash [...]
Corn futures eased mostly 3¢ to 4¢ lower, providing some lift to Cattle futures. Feeder Cattle futures closed an average of $1.26 higher (75¢ at the back to $2.25 in spot Sep). Live Cattle futures closed an average of 67¢ higher. Negotiated cash fed cattle trade ranged from slow on light demand to a [...]
Corn futures continued higher Monday with carryover support from last week’s significantly lower yield estimates by the Pro Farmer Tour, compared to USDA’s most recent forecast. Corn futures closed 11¢ to 18¢ higher through Sep ‘23 and then mostly 4¢ to 7¢ higher. Another day of rising Corn futures took Feeder Cattle future down [...]
Corn futures surged mostly 9¢ to 13¢ higher Friday, fueled by significantly lower yield estimates by the Pro Farmer Tour, compared to USDA’s most recent forecast. Soybean futures closed mostly 20¢ to 30¢ higher. Resurgent Corn futures pressured Feeder Cattle an average of $1.63 lower, except for 67¢ higher in the newly minted back [...]
Feeder Cattle futures closed an average of 95¢ higher Thursday, strengthened by lower Corn futures. Grain futures softened with likely profit taking. Corn futures closed mostly 4¢ to 8¢ lower. Soybean futures closed mostly 16¢ to 25¢ lower. Live Cattle futures closed an average of 19¢ higher, except for an average of 15¢ lower [...]
Cattle futures edged lower Wednesday, with technical pressure and the week's higher grain futures prices. Live Cattle futures closed an average of 38¢ lower. Feeder Cattle futures closed an average of 51¢ lower, except for unchanged to an average of 45¢ higher up front. Negotiated cash fed cattle trade ranged from mostly inactive on [...]
The grain complex roared ahead Tuesday, fueled by mounting concerns about yields based on recent crop ratings and private-company assessments (see Crop Progress below). Corn futures closed 22¢ to 26¢ higher through Jly ‘23 and then mostly 13¢ to 16¢ higher. Soybean futures closed mostly 17¢ to 25¢ higher. Feeder Cattle futures sagged beneath [...]
Negotiated cash fed cattle trade ranged from a standstill to mostly inactive on very light demand through Monday afternoon, according to the Agricultural Marketing Service. Last week, live prices were $141-$142/cwt. in the Southern Plains, $146.00-$148.50 in Nebraska and $148-$150 in the western Corn Belt. Dressed prices were $234. The five-area direct weighted average [...]
Negotiated cash fed cattle trade ranged from limited on light demand to mostly inactive on very light demand through Friday afternoon, according to the Agricultural Marketing Service. For the week, live prices were $2 higher in the Southern Plains at $142/cwt., 50¢ to $1 higher in Nebraska at $145.00-$148.50 and $2 higher in the [...]
Negotiated cash fed cattle prices continued $2 higher Thursday at $142/cwt. in the Southern Plains and $148-$150 in the western Corn Belt. That was on slow trade and moderate demand, according to the Agricultural Marketing Service. There were a few dressed trades in the western Corn Belt $5 higher than last week at $234, [...]
Cattle futures extended gains Wednesday, buoyed by strong cash feeder cattle prices and the growing prospects of higher money for cash fed cattle this week. Feeder Cattle futures closed an average of $1.60 higher. Live Cattle futures edged an average of 36¢ higher. Negotiated cash fed cattle trade was limited on light demand through [...]
Cattle futures rallied Tuesday, helped along by another day of lower Corn futures, recently stronger wholesale beef prices and improving supply fundamentals. Live Cattle futures closed an average of $1.13 higher (60¢ higher at the back to $1.87 higher toward the front). Feeder Cattle futures closed an average of $2.03 higher ($1.60 to $2.47 [...]
Cattle futures weakened Monday, apparently under technical pressure. Live Cattle futures closed an average of 70¢ lower (25¢ to $1.07 lower). Feeder Cattle futures closed an average of 58¢ lower (37¢ to 87¢ lower), except for 30¢ higher in spot Aug. That was despite a down day in the grain complex, where prices were [...]
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Friday afternoon, according to the Agricultural Marketing Service. For the week, live prices were $4-$5 higher in the Southern Plains at $140/cwt., $4-$5 higher in Nebraska at $144-$148 and $1-$4 higher in the western Corn Belt at $145-$148. [...]
Negotiated cash fed cattle trade was moderate on moderate demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. Live prices were $4-$5 higher in the Texas Panhandle at $140/cwt. and $4 higher in Kansas at $140. Elsewhere, trade was limited on light demand with too few transactions to trend. [...]
Cattle futures closed higher Wednesday, buoyed by higher outside markets and the positive outlook for cash prices this week. Feeder Cattle futures closed an average of $1.56 higher ($1.22 to $2.50 higher). Live Cattle futures closed an average of 99¢ higher (57¢ to $1.30 higher). Negotiated cash fed cattle trade ranged from mostly inactive [...]
Corn futures rallied Tuesday, apparently fueled by more negative crop conditions (see below). They closed 5¢ to 7¢ higher through Jly ‘23 and then 2¢ to 3¢ higher. Soybean futures closed mostly 22¢ to 28¢ higher through Aug ‘23, except for sharply higher in the two front contracts, and then 15¢ to 19¢ higher. [...]
Last week's stronger cash prices for feeder and fed cattle, along with softer Corn futures helped Cattle futures extend gains Monday, especially Feeder Cattle, which closed an average of $1.49 higher. Live Cattle futures closed an average of 31¢ higher, except for unchanged in the back contract. Negotiated cash fed cattle trade ranged from [...]
Negotiated cash fed cattle trade ranged from limited on light demand to mostly inactive on light demand through Friday afternoon with too few transactions to trend, according to the Agricultural marketing Service. For the week, live prices were 50¢ to $1 higher in the Southern Plains at $136/cwt., $2 higher at $140 in Nebraska [...]
Negotiated cash fed cattle trade was moderate with light to moderate demand in the Southern Plains through Thursday afternoon. Prices were 50¢ to $1 higher at $135.50 to $136/cwt. Elsewhere, trade was limited on light demand with too few transactions to trend, according to the Agricultural Marketing Service. So far this week, live prices [...]
Steady to firmer cash prices helped Live Cattle futures close an average $1.17 higher on Wednesday (67¢ higher at the back to $1.82 higher in spot Aug). Negotiated cash fed cattle trade was slow on moderate demand in Nebraska through Wednesday afternoon with live prices at $140-$142/cwt. but mostly $2 higher at $140. Dressed [...]
Cattle futures weakened Tuesday, pressured by lower wholesale beef prices, the weaker cash outlook and worries about House Speaker Nancy Pelosi’s visit to Taiwan potentially straining the already frayed relationship between the U.S. and China. Feeder Cattle futures closed an average of $1.08 lower (57¢ to $1.65 lower). Live Cattle futures closed an average [...]
A reprieve in Corn futures helped Feeder Cattle climb an average of $1.64 on Monday, further bolstered by last week's strong cash trade. Corn futures closed 9¢ to 10¢ lower through new-crop contracts and then mostly 1¢ to 2¢ lower. Pressure was likely due in part to reports that the first load of Ukraine [...]
Feeder Cattle futures closed an average of 98¢ higher on Friday with continued cash strength and stabilizing Corn futures. Week to week, though, they were an average of $3.37 lower, pressured by surging Corn futures, which were an average of 52’1¢ higher through the front six contracts. Live Cattle futures closed an average of [...]
Feeder Cattle futures closed an average of $1.55 lower Thursday beneath the weight of higher Corn futures, which were 14¢ to 16¢ higher through new-crop contracts and then mostly 9¢ to 11¢ higher. Soybean futures closed mostly 27¢ to 31¢ higher — both supported by the hotter, drier weather forecast in the Corn Belt. [...]
Feeder Cattle futures rose an average of $1.08 Wednesday, bolstered by strong cash demand. Live Cattle futures edged an average of 13¢ higher, except for an average of 6¢ lower in the front two contracts, despite the weaker cash outlook for the week and wobbly beef prices. Negotiated cash fed cattle trade was moderate [...]
Feeder Cattle futures closed an average of $1.79 lower Tuesday, pressured by Corn futures that were 15¢ to 17¢ higher through new-crop contracts as traders added weather premium based on the latest crop conditions, along with further uncertainty regarding Ukrainian exports. Soybean futures closed 31¢ to 59¢ higher through Jly ‘23 and then mostly [...]
Feeder Cattle futures closed an average of $1.76 lower Monday, pressured by higher Corn futures, bearish feedlot placements in Friday's Cattle on Feed report and likely profit taking. Corn futures reversed direction and closed 15¢ to 19¢ higher through new-crop contracts after Russia attacked one of Ukraine’s deep seaports before the ink dried on [...]
Cattle futures took a step higher Friday, apparently buoyed by bullish expectations for the USDA reports that came out later that day (see below). Feeder Cattle futures closed an average of $2.38 higher. Live Cattle futures closed an average of $1.42 higher (85¢ higher at the back to $2.02 higher toward the front). Negotiated [...]
Corn futures dredged 15¢ to 16¢ lower through new-crop contracts and then mostly 12¢ to 13¢ lower, pressured by favorable weather and reports suggesting Ukraine, Russia, Turkey and the UN would sign an agreement Friday that would enable resumption of Ukraine Black Sea grain exports. Soybean futures closed mostly 24¢ to 30¢ lower, also [...]
Negotiated cash fed cattle prices were $1-$3 lower in Nebraska Wednesday at $139-$142/cwt. Dressed prices were $3 lower at $227. That was on slow trade and light demand, according to the Agricultural Marketing Service. Elsewhere, trade was limited on light demand with too few transactions to trend. Live sales were $1 lower in the [...]
Feeder Cattle futures rallied an average of $2.13 higher Tuesday, propelled by lower Corn futures and ongoing cash demand strength. Corn futures closed 13¢ to 15¢ lower through new-crop contracts on weather pressure and then mostly 7¢ to 8¢ lower. Soybean futures closed 17¢ to 22¢ lower through Jly ‘23 and then mostly 9¢ [...]
Soybean futures closed sharply higher Monday, boosted by a bounce in oil prices, carrying Corn along for the ride. Extreme heat in the short-term forecast added support. Soybean futures closed 31¢ to 38¢ higher through Sep ‘23 and then mostly 26¢ to 27¢ higher. Corn futures closed mostly 5¢ to 6¢ higher. Even so, [...]
Cattle futures continued to soften Friday on the week’s lower cash fed cattle prices and ongoing recession fears. Pressure could have also included uncertainty regarding the railroad strike set to begin Monday. Ultimately the strike was averted, at least for now, when President Biden signed an executive order Friday, creating a Presidential Emergency Board [...]
Cattle futures ran out of steam Thursday amid higher Corn futures, softer cash fed cattle prices and continued volatility in outside markets. Perhaps the possibility of a U.S. railroad strike on Monday also played a role. Feeder Cattle futures closed an average of $1.29 lower (87¢ to $1.90 lower). Live Cattle futures closed an [...]
Strong cash demand continued to bolster Feeder Cattle futures, Wednesday, helping Live Cattle to continue edging higher. Feeder Cattle futures closed an average of $1.17 higher. Live Cattle futures closed an average of 30¢ higher, except for unchanged in one contract. Negotiated cash fed cattle trade was moderate in the Southern Plains and Nebraska [...]
Grain markets were the story once again on Tuesday, melting down beneath the weight of bearish outside markets, the climbing U.S. dollar, a more optimistic weather outlook and apparently little impact from the latest monthly World Agricultural Supply and Demand Estimates (WASDE-see below). Corn futures closed 36¢ to 48¢ lower through Jly ‘23 and [...]
Strong cash demand for calves and feeder cattle, with snugger supplies looming, helped boost Feeder Cattle futures an average of $2.09 higher Monday ($1.60 higher toward the back to $3.15 higher in spot Aug). Live Cattle futures closed an average of $1.26 higher (82¢ higher toward the back to $2.20 higher in spot Aug), [...]
Grain and Soybean futures rallied higher Friday, apparently mostly due to a wetter, drier forecast. Corn futures closed mostly 25¢ to 31¢ higher through Jly ‘23 and then mostly 10¢ to 22¢ higher. Soybean futures closed mostly 24¢ to 39¢ higher through Aug ’24 and then mostly 10¢ to 21¢ higher. Stronger grain futures [...]
Negotiated cash fed cattle trade was moderate on moderate demand through Thursday afternoon in the Southern Plains and Nebraska. Live prices were steady to $1 lower in the Texas Panhandle at $137/cwt., mostly $1 lower in Kansas at $137 and $1-$2 lower in Nebraska at $144-$149, where dressed prices were $2 lower at $232. [...]
Cattle futures gained Wednesday, helped along by a bounce higher in wholesale beef values. Choice Boxed beef cutout value was $3.39 higher Wednesday afternoon at $268.05/cwt. Select was $3.06 higher at $242.93. Feeder Cattle futures closed an average of $1.17 higher (60¢ higher in spot Aug to $1.32 higher at the back). Live Cattle [...]
Another round of heavy fund selling — tied to recessionary fears — held sway in commodity markets Tuesday. Corn futures closed mostly 24¢ to 29¢ lower. Soybean futures closed 70¢ to 79¢ lower through Aug ‘23 and then mostly 55¢ to 60¢ lower. Both were also pressured by favorable weather. Cattle futures were caught [...]
Weaker grain futures and strong country trade helped Feeder Cattle futures take another step higher Friday. Feeder Cattle futures closed an average of $1.57 higher, while Live Cattle futures closed an average of $1.14 higher (55¢ to $2.62 higher). Grain and Soybean futures were down again on extended fund liquidation and plummeting open interest. [...]
Grain markets were the story on Thursday as Corn and Soybean futures tumbled, likely having more to do with quarter-end fund liquidation than the latest USDA Grain Stocks and Acreage reports, which were likely regarded as neutral overall. On Thursday, Corn futures closed 24¢ to 35¢ lower through new-crop contracts and then mostly 11¢ [...]
Negotiated cash fed cattle trade was light to moderate on moderate demand in Nebraska and the Southern Plains through Wednesday afternoon, according to the Agricultural Marketing Service. Live prices were steady in the Texas Panhandle at $138/cwt, steady to $1 higher in Kansas at $138 and steady to $3 higher in Nebraska at $145-$151. [...]
Cattle futures closed lower Tuesday, basically giving back what was gained the previous session as Corn futures gained and cash fed cattle prices for the week remained unestablished. Feeder Cattle futures closed an average of $1.42 lower (77¢ lower at the back to $2.30 lower in spot Aug). Live Cattle futures an average of [...]
Feeder Cattle futures rallied back Monday, closing an average of $1.63 higher (65¢ higher at the back to $2.20 higher). They recovered the previous session’s losses, helped along by lower Corn futures and carried Live Cattle along. Live Cattle futures an average of an average of 47¢ higher, also helped by higher wholesale values. [...]
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Friday afternoon, according to the Agricultural Marketing Service. For the week, live prices were $3-$4 lower in the Southern Plains at $137/cwt., steady in Colorado at $145, steady to $5 higher in Nebraska at $145-$150 and $2-$5 [...]
Feeder Cattle futures gained Thursday, closing an average of $1.11 higher and supported by the selloff in Corn futures, which closed 26¢ to 38¢ lower. Soybean futures closed 55¢ to 61¢ lower through Aug ’23 and then mostly 41¢ to 45¢ lower. Grain futures were pressured by the crop-friendly weather forecast in the Corn [...]
Negotiated cash fed cattle prices were mostly $2 lower on a live basis in Kansas through Wednesday afternoon at $138/cwt. That was on slow trade and moderate demand, according to the Agricultural Marketing Service. Prices were $2 lower to $2 higher at $138 in the Texas Panhandle on Tuesday. Elsewhere, trade ranged from limited [...]
Feeder Cattle futures extended gains Tuesday, closing an average of $2.37 higher on Corn futures that were 23¢ to 29¢ lower through Jly ’23, pressured by a favorable short-term weather outlook and positive crop progress and conditions. Soybean futures closed 20¢ to 28¢ lower through Mar ’23. Live Cattle hovered ahead of the week's [...]
Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service. Last week, live prices ended up $3-$4 higher in the Southern Plains at $140/cwt., $2-$4 higher in the Northern Plains at $145 and mostly steady to $4 higher [...]
Grain and soybean futures rallied Thursday with extreme heat and dry conditions forecast for the Corn Belt. Corn futures closed 11¢ to 14¢ higher through Jly ‘23, and then mostly 3¢ to 5¢ higher. Soybean futures closed mostly 14¢ to 19¢ higher. Stouter corn prices helped pressure Feeder Cattle futures an average of $1.66 [...]
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to slow with moderate demand through Wednesday afternoon, according to the Agricultural Marketing Service. So far this week, live prices are steady to $2 higher in the Texas Panhandle at $136-$138/cwt., $4 higher in Colorado at $145, $2-$4 higher in Nebraska [...]
Packers showed their hand early and came out swinging in Nebraska Tuesday where live prices were $4-$6 higher at $145-$149/cwt. That was on slow trade and light demand. Dressed trade there last week was $225-$226. Elsewhere, trade was limited on light demand with too few transactions to trend, according to the Agricultural Marketing Service. [...]
Cattle futures sagged Monday beneath the weight of continued sharply lower outside markets as traders try to navigate everything from slowing economic growth, to increasing COVID cases in China and Russia’s war with Ukraine. Feeder Cattle futures closed an average of $2.04 lower ($1.42 to $3.15 lower). Live Cattle futures closed an average of [...]
Negotiated cash fed cattle prices were $2 higher in Kansas through Friday afternoon at $137/cwt. That was on slow to moderate trade and moderate demand, according to the Agricultural Marketing Service. There were also a few trades in the Texas Panhandle at $137, but too few to trend; established trade for the week was [...]
Cattle futures closed narrowly mixed Thursday, retaining most of the previous strong gains, supported by stronger cash fed cattle prices and aggressive slaughter. Feeder Cattle futures closed 12¢ and 38¢ higher in the front two contracts and then an average of 45¢ lower. Live Cattle futures closed mixed, from 33¢ lower 28¢ higher. Negotiated [...]
Negotiated cash fed cattle prices continued to gain Wednesday with live prices $1 higher in the Texas Panhandle at $136/cwt., $1-$2 higher in Nebraska at $142-$143 and steady in Colorado at $141. Dressed prices in Nebraska are mostly $3-$4 higher at $225-$226, but a few up to $228. That was on moderate trade and [...]
Recently stronger wholesale beef prices helped Cattle futures firm Tuesday, despite another day of higher Corn futures. Live Cattle futures closed an average of 71¢ higher (3¢ higher at the back to $1.22 higher toward the front). Feeder Cattle futures closed an average of 17¢ higher except for unchanged in Jan. Corn futures closed [...]
Corn futures surged 11¢ to 15¢ higher through Jly ‘23 on Monday, tied to increased uncertainty stemming from Russia’s weekend destruction of a major grain export terminal in the southern part of Ukraine. That helped pressure Feeder Cattle futures an average of $1.32 lower (85¢ lower at the back to $1.90 lower in spot [...]
Overall, Cattle futures extended gains Friday as nearby Corn futures continued to soften. Feeder Cattle futures closed an average of 58¢ higher. They were an average of $6.23 higher week to week on Friday as Corn futures declined an average of 40.3¢ through the front six contracts during the same period. Live Cattle futures [...]
Cattle futures extended the previous day’s rally, apparently helped along by technical support and perhaps emboldened by corn planting progress and recent rains across the country. Feeder Cattle futures closed an average of $2.70 higher. Live Cattle futures closed an average of $1.74 higher, from 83¢ in spot June to $2.15 in Dec. Choice [...]
A second consecutive day of sharply lower new-crop Corn futures prices helped Feeder Cattle futures roar an average of $3.87 higher. Corn futures closed 17¢ to 22¢ lower through Jly ‘23, and then mostly 11¢ to 13¢ lower. Soybean futures closed 4¢ to 7¢ higher through Jly ‘23 and then mostly 4¢ to 6¢ [...]
Cattle futures took a step lower Tuesday to start the trading week, caught in the broader commodity market downdraft and amid month-end positioning. Feeder Cattle futures closed an average of $1.20 lower. Live Cattle futures closed an average of $1.31 lower, from 20¢ lower at the back to $2.02 lower toward the front. Corn [...]
Wholesale beef prices gained on Friday heading into the unofficial start of grilling season. Choice Boxed beef cutout value was $1.45 higher Friday afternoon at $265.42/cwt. Select was $2.07 higher at $246.50. Firmer beef prices helped Live Cattle futures close an average of 22¢ higher, except for an average of 18¢ lower in the [...]
Cattle futures softened with the week’s weaker cash prices. Feeder Cattle futures closed an average of 80¢ lower, from 2¢ lower in waning spot May to $1.32 lower. Live Cattle futures closed an average of 33¢ lower, except for an average of 8¢ higher in the front two contracts. Negotiated cash fed cattle trade [...]
Negotiated cash fed cattle trade was slow to moderate on moderate demand in Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service. Live prices were $2 lower at $140/cwt. and dressed prices were generally $3 lower at $222-$225. Elsewhere, trade was limited on light demand with too few transactions to trend. Earlier in [...]
Lower Corn futures helped Feeder Cattle extend gains Tuesday. They closed an average of $2.56 higher ($1.05 higher in spot May to $3.17 higher at the back). Live Cattle futures closed an average of 23¢ higher, except for an average of 14¢ lower in the front two contracts and unchanged at the back. Corn [...]
Apparently, Cattle futures were too cheap and/or traders had already factored in what turned out be a bearish Cattle on Feed report Friday. Feeder Cattle closed an average of 98¢ higher (5¢ higher in spot May to $1.70 higher). And that was with Corn futures futures closed 5¢ to 7¢ higher through Jly ‘23 [...]
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Friday afternoon with too few transactions to trend, according to the Agricultural Marketing Service. For the week, live prices were $2 lower in the Southern Plains at $138/cwt., $4 lower in Nebraska at $140 and $2-$3 lower [...]
Live Cattle firmed, closing narrowly mixed, from an average of 38¢ lower to an average of 14¢ higher. However, contra-seasonally lackluster wholesale beef prices and the dwindling premium in deferred contracts continued to cast a gloomy pall. Feeder Cattle futures closed an average of 76¢ lower (52¢ to $1.72 lower) amid extremely light trade. [...]
Cattle futures trended lower pressured by bearish outside markets. Feeder Cattle futures closed an average of 69¢ lower. Live Cattle futures closed an average of $1.46 lower. Grain futures were also pressured by pessimistic outside markets. Corn futures closed mostly 10¢ to 20¢ lower. Soybean futures closed 14¢ to 26¢ lower. Negotiated cash fed [...]
Negotiated cash fed cattle trade and demand were light to moderate in the Southern Plains through Tuesday afternoon with live prices $2 lower at $138/cwt. In Nebraska, there were a few dressed sales at $226-$227 on slow trade and light demand, but too few to trend. Last week live prices were $144 and dressed [...]
India’s weekend announcement that it would ban wheat exports shoved nearby KC Wheat limit up 70¢ Monday, leading other grains higher. Corn futures closed 16¢ to 28¢ higher through new-crop contracts and then mostly 7¢ to 9¢ higher. Soybean futures closed 10¢ to 13¢ higher through Aug ‘23 and then mostly 1¢ to 4¢ [...]
Grain futures were mixed Friday, continuing to adjust to the previous day’s bullish World Agricultural Supply and Demand Estimates. Corn futures closed mostly 4¢ to 10¢ lower. Soybean futures closed 12¢ to 32¢ higher through Sep ‘23 and then fractionally higher to 1¢ higher, except for 63¢ higher in spot May. Softer Corn prices [...]
Grain futures marched higher Thursday, buoyed by the latest monthly World Agricultural Supply and Demand Estimates, led by Kansas City Wheat, which closed 63¢ to 69¢ higher in the front five contracts. Corn futures closed mostly 8¢ to 16¢ higher, while Soybean futures closed 3¢ to 10¢ higher through Aug ‘23 and then mostly [...]
Cattle futures were mixed Wednesday, with Feeder Cattle pressured by a surge in Corn futures prices, while Live Cattle was supported by the discount to cash. Feeder Cattle futures closed an average of $1.19 lower (35¢ lower at the back to $1.85 lower toward the front). Live Cattle futures closed an average of 47¢ higher [...]
Negotiated cash fed cattle trade was light to moderate on moderate demand in the Southern Plains through Tuesday afternoon, according to the Agricultural Marketing Service. Prices were steady to $1 lower in the Texas Panhandle at $139-$140/cwt. And steady in Kansas at $140. Elsewhere, trade ranged from limited on light demand to a standstill. [...]
Cattle futures weakened Monday, pressured by recently waning wholesale beef values and sharply lower outside markets, but supported by lower Corn futures. Feeder Cattle futures closed an average of 44¢ lower, except for 25¢ higher in spot May. Live Cattle futures closed an average of 37¢ lower, except for 80¢ and 2¢ higher in [...]
Corn futures closed mostly 11¢ to 18¢ lower on Friday, which helped lift Feeder Cattle futures an average of 77¢ higher (32¢ higher toward the front to $1.37 higher at the back), except for 77¢ lower in spot May. Soybean futures closed 20¢ to 25¢ lower. On the other hand, Live Cattle futures closed [...]
Cattle futures sagged Thursday with higher Corn futures and lower wholesale beef values helping stall recent momentum. Sharply lower outside markets also clouded optimism. Feeder Cattle an average of $1.14 lower, from 47¢ lower at the back to $1.92 lower in spot May. Live Cattle futures closed an average of 73¢ lower, from 12¢ [...]
Negotiated cash fed cattle trade and demand were moderate in the Texas Panhandle through Wednesday afternoon with prices steady at $140/cwt. Trade in Nebraska was moderate on moderate to good demand, also at steady prices of $146 on a live basis and $232 in the beef. Elsewhere, trade was slow on light to moderate [...]
Follow-through support lifted Cattle futures for a second consecutive day, helped along by another down day for Corn. Feeder Cattle futures closed an average of $1.13 higher, (5¢ higher toward the back to $2.20 higher toward the front), except for unchanged in the back two contracts. Live Cattle futures closed an average of 61¢ [...]
Cattle futures rallied Monday, helped along by lower Corn futures, oversold conditions, expanding open interest and opening the books on a new month. Feeder Cattle futures closed an average of $5.04 higher. Live Cattle futures closed an average of $1.67 higher (97¢ higher toward the back to $2.55 higher in new spot Jun). Negotiated [...]
Cattle futures bounced around last week, but never outran the shadow of the unexpectedly large March feedlot placements suggested by the latest Cattle on Feed report that came out the previous Friday. Sagging wholesale beef values and worries that elevated retail beef prices are beginning to chip at demand added pressure to Live Cattle [...]
Feeder Cattle futures firmed Thursday, closing an average of 87¢ higher, except for 27¢ lower in expiring Apr. They were helped along by the mainly narrowly mixed close in Corn futures. The overall continued decline in wholesale beef prices and weaker weekly exports helped pressure Live Cattle Live futures an average of 47¢ lower, [...]
Another day of higher Corn futures weighed heavily on Feeder Cattle futures, Wednesday, which closed an average of $3.35 lower ($2.57 to $4.20 lower), except for unchanged in expiring Apr After 12¢ and 10¢ higher in the front two contracts, Corn futures closed mostly fractionally higher to 6¢ higher, pushed along by Soybean futures, [...]
Steady to stronger negotiated cash fed cattle prices helped Live Cattle futures closed an average of 65¢ higher. Negotiated cash fed cattle trade was moderate through Tuesday afternoon in Nebraska and the Southern Plains, according to the Agricultural marketing Service. So far this week, live prices are steady in the Southern Plains at $140/cwt. [...]
Friday's bearish Cattle on Feed report took Cattle futures down a peg on Monday. Feeder Cattle futures closed an average of $1.78 lower ($1.25 to $2.57 lower), and Live Cattle futures closed an average of $1.83 lower (72¢ lower toward the back to $3.35 lower in spot Apr). Negotiated cash fed cattle trade opened [...]
Heading into the new week, the primary focus is likely reaction to Friday's monthly Cattle on Feed report for feedlots with 1,000 head or more capacity. On the surface, it confirms the severity and duration of the current drought, with March placements about 8% more than expected, following surging placements the previous month. Beneath [...]
A hard break in Corn futures and likely positioning ahead of Friday's monthly Cattle on Feed report gave Feeder Cattle futures more room to run, up an average of $2.32. Corn futures closed mostly 9¢ to 16¢ lower on leaner weekly export sales and ethanol production, as well as likely profit taking. Soybean futures [...]
Another day of stronger cash trade added lift to Cattle futures an average of $1.60 higher. So far this week, negotiated cash fed cattle prices are $1 higher on a live basis in the Southern Plains at $140/cwt., $4 higher in Nebraska at $144-$146 and $3 higher in the western Corn Belt at $145-$146. [...]
Negotiated cash fed cattle trade jumped out to an early and positive start Tuesday with prices $1 higher in the Southern Plains at $140/cwt. on moderate trade and demand, according to the Agricultural Marketing Service. Elsewhere, trade ranged from a standstill to mostly inactive on very light demand with too few transactions to trend. [...]
Cattle futures closed lower Monday as Corn futures continued to rally 12¢ to 23¢ higher through old-crop and new-crop contracts, perhaps also buoyed by the slow planting pace. According to the latest USDA Crop progress report, 4% of the corn is in the ground compared to 7% last year and the five-year average of [...]
Futures and equity markets were closed Friday, in observance of Good Friday. Through Thursday, from the previous Friday, Cattle futures were able to claw back some losses, supported by stronger cash sales and the continued seasonal increase in Choice wholesale beef value. Negotiated cash fed cattle trade ranged from inactive on light demand to [...]
Cattle futures edged lower Thursday, amid light trade and likely positioning ahead of the holiday weekend — the CME is closed Friday in observance of Good Friday. Live Cattle futures closed an average of 18¢ lower, except for 5¢ higher in the spot month and unchanged in Dec. Feeder Cattle futures closed an average [...]
Negotiated cash fed cattle prices continued to gain ground Wednesday on slow trade and moderate demand, according to the Agricultural Marketing Service. So far this week, live prices are $1 higher in the Southern Plains at $139/cwt., $2 higher in Nebraska at $140-$142, $3 higher in the western Corn Belt at $143 (a few [...]
Negotiated cash fed cattle prices gained $1 in Kansas at $139/cwt. on active trade and good demand through Tuesday afternoon, according to the Agricultural Marketing Service. Although too few to trend there were also some early trades $2 higher in Nebraska and the western Corn Belt at $142. Choice Boxed beef cutout value was [...]
Live Cattle futures closed an average of 66¢ higher Monday, receiving support from the major, performance-depressing winter storm moving toward the Northern Plains, and thoughts by some that cash cattle can crawl higher this week. In the meantime, negotiated cash fed cattle trade ranged from limited on light demand to a standstill in all [...]
Corn and soybean futures climbed again Friday with confirmation of ending stock expectations in the World Agricultural Supply and Demand Estimates (see below). Corn futures closed mostly 5¢ to 11¢ higher. Soybean futures closed 35¢ to 43¢ higher in the front three contracts and then 18¢ to 29¢ higher. Cattle futures traded in a [...]
Oversold conditions helped Cattle futures claw back a little more of recent losses. Feeder Cattle futures closed an average of $1.57 higher, except for an average of 59¢ lower in the front two contracts. That was with Corn futures gaining on likely positioning ahead of tomorrow's month World Agricultural Supply and Demand Estimates. Corn [...]
Slightly lower nearby Corn futures prices helped Feeder Cattle futures recover some lost ground Wednesday, closing an average of 86¢ higher, except for 55¢ lower in the back contract. Corn futures closed unchanged to 3¢ lower through July '23 and then fractionally higher to 2¢ higher. Soybean futures closed mostly 6¢ to 12¢ lower. [...]
Soybean and corn futures gained Tuesday with stronger demand and bearish weather conditions in South America. Corn futures closed 3¢ to 9¢ higher. Soybean futures were up 7¢ to 28¢. That weighed on Cattle futures once again, with Feeder Cattle an average of $2.26 lower and Live Cattle down an average of $1.21. So [...]
Feeder Cattle futures were pressured sharply lower by rising feed costs once again Monday. Feeder Cattle futures closed an average of $2.29 lower ($1.50 lower toward the back to $3.65 lower toward the front). Corn futures closed mostly 7¢ to 15¢ higher Soybean futures closed mostly 22¢ to 31¢ higher. Live Cattle futures, closed [...]
Grain markets Friday continued to adjust to the previous day’s Prospective Plantings report. Soybean futures closed 5¢ to 35¢ lower across the board on more planted acres than expected. New-crop Corn futures mostly gained again Friday, mostly 4¢ to 7¢ higher on fewer anticipated acres. Rising feed costs once again helped pressure Feeder Cattle [...]
Corn futures closed sharply higher and Soybean futures closed sharply lower Thursday, all fueled by the Prospective Plantings and quarterly Grain Stock reports from USDA. Corn futures closed 20¢ to 27¢ higher in new-crop contracts. Soybean futures closed 36¢ to 49¢ lower through Sep ‘23 and then 23¢ to 27¢ lower. The sharp bounce [...]
Continuing optimism about a ceasefire between Russia and Ukraine helped drag grain futures sharply lower again Tuesday. Corn futures closed 7¢ to 22¢ lower through Jly ‘23 and then 2¢ to 7¢ higher. Soybean futures closed 12¢ to 23¢ lower through Jly ‘23 and then mostly 6¢ to 10¢ lower. The continued break in [...]
All things considered, Monday’s action in Cattle futures might be considered a victory of sorts, given the bearish placements in the latest Cattle on Feed report, although it tightens cattle supplies further down the line. Feeder Cattle futures closed an average of 29¢ lower amid light trade. Live Cattle futures closed an average of [...]
Total cattle slaughter for this year surpassed the previous year’s year-to-date total last week. Estimated total cattle slaughter last week of 659,000 head was 15,000 more than the previous week and 10,000 head more than the same time last year. Estimated total year-to-date cattle slaughter of 7.76 million head was 2,000 head more year [...]
Cattle futures gained a little ground Thursday with softer Corn futures. Positioning ahead of Friday’s Cattle on Feed report could have also played a role. Feeder Cattle futures closed an average of 57¢ higher except for unchanged in the back contract. Live Cattle futures closed an average of 32¢ higher. Grain futures backed up [...]
Negotiated cash fed cattle prices were steady Wednesday at $138/cwt. on a live basis in the Southern Plains (slow trade and light demand) and Nebraska (moderate trade and good demand), according to the Agricultural Marketing Service. Dressed prices were also steady in Nebraska at $221. Trade was limited on light demand in the western [...]
Grain and Soybean futures extended the previous session’s gains Tuesday with Corn futures closing mostly 2¢ to 6¢ higher and Soybean futures closing 5¢ to 7¢ higher. Stronger Grain futures continued to cap Cattle futures. Feeder Cattle futures closed an average of 40¢ lower, except for 22¢ higher in spot Mar. Live Cattle futures [...]
Grain and Soybean futures pressed higher Monday with support from higher crude oil prices and the lingering Russian war on Ukraine. Corn futures closed 12¢ to 18¢ higher through Sep ‘23 and then mostly 6¢ to 8¢ higher. Soybean futures closed mostly 20¢ to 24¢ higher. Loftier grain futures helped pressure Feeder Cattle futures [...]
Softer feed futures prices, late-week firmness in cash trade and higher outside markets helped support Cattle futures Friday. Corn futures closed 2¢ to 12¢ lower in old-crop contracts and then mostly 1¢ lower to 1¢ higher. Soybean futures closed fractionally lower to 3¢ lower through Jan ’23 and then mostly 11¢ to 13¢ higher. [...]
Grain futures rebounded from the previous session’s hard break. Kansas City Wheat set the pace — up mainly 24¢ to 32¢ — as traders apparently grew less confident in the Russia ceasefire chatter. Soybeans also received support from stronger oil prices. Corn futures closed 20¢ to 24¢ higher in old-crop contracts and then mostly [...]
Kansas City Wheat futures plummeted Wednesday (limit-down 85¢ in the front two contracts) on apparently more positive ceasefire talks between Ukraine and Russia. Corn and Soybean futures went along for the ride. Corn futures closed mostly 14¢ to 28¢ lower. Soybean futures closed mostly 6¢ to 9¢ lower. That helped Feeder Cattle futures close [...]
Kansas City Wheat futures charged higher 47¢ to 53¢ in old-crop contracts. Corn futures closed mostly 1¢ to 2¢ lower, though, and Soybean futures closed 9¢ to 14¢ lower through Sep ‘23. That helped Cattle futures hold on to most of the previous session’s strong gains. Feeder Cattle futures closed mixed from an average [...]
Cattle futures rallied higher Monday, helped along by sharply lower nearby Corn futures prices, as well as the nascent seasonal increase in wholesale beef prices. Feeder Cattle futures closed an average of $3.08 higher from $2.07 higher at the back to $4.42 toward the front. Live Cattle futures closed an average of $1.65 higher, [...]
Cattle futures stepped higher Friday, helped along by higher wholesale beef prices, stronger Lean Hog futures and moderating feed futures. Live Cattle futures closed an average of 50¢ higher, from 10¢ higher in the back contract to $1.40 higher in spot Apr. Week to week, they closed an average of $1.17 higher (42¢ to [...]
Feeder Cattle futures tumbled lower Thursday, pressured once again by surging Corn futures, tied to strong weekly U.S. export sales. Feeder Cattle futures closed an average of $3.17 lower. Corn futures closed 15¢ to 22¢ higher through Jly ‘23, and then mostly 6¢ to 9¢ higher. Soybean futures closed mostly 15¢ to 22¢ higher. [...]
Cattle futures ran out of steam Wednesday, although the latest World Agricultural Supply and Demand Estimates continue to paint a positive fundamental picture (see below). Feeder Cattle futures closed an average of 43¢ lower, except for 2¢ higher in spot Mar. Live Cattle futures closed an average of 90¢ lower, except for 5¢ higher [...]
Volatility continued Tuesday, but Cattle futures managed to extend gains amid two-sided trading, supported by an initial drop in Corn futures and eventually higher outside markets. Feeder Cattle futures closed an average $1.07 higher (65¢ to $1.40 higher), except for 57¢ lower in spot Mar. Live Cattle futures closed average 79¢ higher (17¢ higher [...]
Cattle futures reversed direction to the upside Monday, despite sharply lower outside markets and grain market strength tied to Russia’s attack on Ukraine. Positioning and bottom-picking likely explain much of the move, while underscoring the unaltered, positive supply fundamentals. Feeder Cattle futures closed an average $1.86 higher ($1.12 to $2.55 higher). Live Cattle futures [...]
Concerns about less corn and wheat exports from Ukraine and Russia, due to the war, continued to underpin futures prices Friday. As time wears on, there is also concern about fertilizer exports from the region. Corn futures closed 5¢ to 8¢ higher, except for 10¢ to 29¢ higher from near Jly to next Mar. [...]
After a day’s reprieve, wheat soared higher, boosting front-month Corn and Soybean futures. K.C. Wheat was 75¢ higher in the front four contracts. Corn futures closed 9¢ to 22¢ higher in the front three contracts and then mostly 4¢ to 11¢ lower. Soybean futures closed 2¢ to 4¢ higher in the front two contracts [...]
Feeder Cattle futures rebounded from some of the steep, recent losses Wednesday, helped along by static to lower Corn futures prices and sharply higher outside markets. Feeder Cattle futures closed an average of $2.44 higher ($2.02 to $3.20 higher.
Live Cattle futures closed an average of 71¢ higher, except for an average of 45¢ lower in the front three contracts.
Corn futures closed mostly 8¢ to 16¢ lower.
Soybean futures closed 20¢ to 30¢ lower.
Negotiated cash fed cattle trade started the week $2 lower in the Southern Plains at $140/cwt. Trade was slow on light to moderate demand, according to the Agricultural Marketing Service.
Trade was limited on light demand in Nebraska with a few live trades at $140, but too few to trend. Live prices last week were $142-$144 and dressed prices were $227.
Trade was also limited on light demand in the western Corn Belt. Prices last week were $144 on a live basis and $227 in the beef.
Choice boxed beef cutout value was 96¢ lower Wednesday afternoon at $255.72/cwt. Select was 18¢ lower at $251.34.
Grain and soybean futures continued to dominate market narrative Tuesday, blasting another leg higher, fueled by the Russian attack on Ukraine and the fallout from everything from export disruptions to financial turmoil.
Corn futures closed 30¢ to 42¢ higher in the front three contracts and the mostly 13¢ to 15¢ higher. Spot Mar was 80¢ higher over the last two sessions, closing Tuesday at a staggering $7.39’6
Soybean futures closed 41¢ to 61¢ higher in the front six contracts and then mostly 38¢ to 39¢ higher. The front two contracts are up more than $1.00 over the past two sessions.
Kansas City HRW futures closed 50¢ to 57¢ higher in the front five contracts; more than $1 higher in the front contracts over the last two sessions.
Those runaway feed futures prices hammered Cattle futures, especially Feeder Cattle once again. Feeder Cattle closed an average of $1.63 lower (65¢ to $2.55 lower) for an average of $4.14 lower over the last two sessions.
Live Cattle futures closed mixed, from an average of 54¢ lower in the front three contracts to an average of 19¢ higher.
Negotiated cash fed cattle trade ranged from a standstill to mostly inactive on very light demand through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $142/cwt. on a live basis in the Southern Plains, $142-$144 in Nebraska and $144 in the western Corn Belt. Dressed prices were $227 in Nebraska and $226-$227 in the western Corn Belt.
Choice boxed beef cutout value was 83¢ lower Tuesday afternoon at $256.68/cwt. Select was $1.89 lower at $251.52.
Grain and soybean futures ricocheted sharply higher Monday, driven once again by uncertainty stemming from the military assault in Eastern Europe.
Corn futures closed 24¢ to 38¢ higher through Jly ‘23 and then mostly 16¢ to 19¢ higher.
Soybean futures 29¢ to 54¢ higher through Sep ‘22 and the mostly 19¢ to 20¢ higher.
The spike weighed on Cattle futures, especially Feeder Cattle.
Feeder Cattle futures closed average of $2.51 lower.
Live Cattle futures closed an average 32¢ lower, except for $1.22 higher in spot Feb.
Negotiated cash fed cattle trade ranged from a standstill to mostly inactive on very light demand through Monday afternoon, according to the Agricultural Marketing Service.
Last week live prices were generally steady in the Southern Plains at mostly $142/cwt., steady to $2 higher in Nebraska at $142-$144, and steady to $2 higher in the western Corn Belt at $144. Dressed prices were $1 higher in Nebraska at $227 and steady to $1 higher in the western Corn Belt at $226-$227.
Choice boxed beef cutout value was 76¢ lower week to week on Monday afternoon at $257.51/cwt. Select was $2.00 lower at $253.41.
The volatile market whipsaw unleashed by Russia’s attack on Ukraine continued in futures and equities Friday.
Grain and soybean futures closed sharply lower, shoved around by massive open interest, a more positive South American weather outlook and USDA projecting more corn and wheat acres to be planted than expected. In its Grains and Oil Seeds Outlook presented at the annual Agricultural Outlook Forum, USDA forecast 92.0 million acres of corn and 88.0 million acres of soybeans.
Soybean futures closed 34¢ to 71¢ lower through Jan ‘23 and the mostly 19¢ to 29¢ lower.
Corn futures closed 24¢ to 35¢ lower through Jly ‘23 and then mostly 20¢ lower.
Softer Corn futures benefitted Feeder Cattle futures, which closed an average of 96¢ higher (65¢ to $1.15 higher) Friday. However, they closed an average of $3.74 lower week to week on Friday ($2.22 to $6.10 lower).
Based on weekly auctions monitored by Cattle Current, calves and feeders sold widely mixed last week but with distinctly lower undertones related to pressure from grain prices as well as weather disruptions in some areas.
Cattle futures fell hard Thursday as outside markets initially plummeted in response to Russia’s invasion of Ukraine, although they did close off of session lows.
Feeder Cattle futures closed an average of $2.91 lower, from $1.90 to $4.47 lower.
Live Cattle futures closed an average of $2.05 lower, from $1.12 to $2.52 lower.
So far this week, though, negotiated cash fed cattle prices are firm to higher with live prices steady in the Southern Plains at $142/cwt., $2 higher in Nebraska at $144 and steady to $3 higher in the western Corn Belt at $144-$145. Dressed prices are $1 higher in Nebraska at $227 and steady to $1 higher in the western Corn Belt at $226-$227.
Trade was slow on light demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
Choice Boxed beef cutout value was 76¢ lower Thursday afternoon at $260.88/cwt. Select was $4.68 lower at $258.96.
Grain and soybean futures were widely volatile as traders came to grips with the war in eastern Europe, as well as U.S. baseline projections released as part of the annual Agricultural Outlook Forum (see below).
Corn futures closed 4¢ to 9¢ higher in the front three contracts and then 6¢ to 15¢ lower.
Soybean futures closed mostly 23¢ to 36¢ lower.
It was deja vu all over again Wednesday as Wheat and Soybean futures blasted higher, carrying Corn along for the ride and weighing on Cattle futures.
Chicago wheat was 27¢ to 32¢ higher through May ’23. Soybean futures closed 19¢ to 40¢ higher in the front five contracts and then mostly 4¢ to 6¢ higher. Corn futures closed 5¢ to 9¢ higher through Jly ‘23 and then 1¢ to 2¢ higher.
Feeder Cattle futures closed average 85¢ lower (20¢ lower at the back to $1.45 lower in spot Mar).
Live Cattle futures closed an average 61¢ lower (25¢ to $1.27 lower).
Negotiated cash fed cattle trade ranged from a standstill to limited on light demand through Wednesday afternoon, according to the Agricultural Marketing Service. However, some private reports from the North suggested higher prices for the day.
Prices last week were $142/cwt. on a live basis in Nebraska and the Southern Plains and $142-$144 in the western Corn Belt. Dressed prices were at $226.
Choice Boxed beef cutout value was 76¢ lower Wednesday afternoon at $260.88/cwt. Select was $4.68 lower at $258.96.
Grain futures surged Tuesday, led by Wheat futures, fueled by the tensions in Eastern Europe, with Chicago wheat was 40¢ to 48¢ higher through the front six contracts.
Corn futures closed 12¢ to 20¢ higher in the front four contracts and then mostly 7¢ to 8¢ higher.
Soybean futures closed 24¢ to 33¢ higher in the front four contracts and then mostly 12¢ to 14¢ higher.
Higher Corn prices weighing on Feeder Cattle futures, which closed average of 94¢ lower (37¢ lower at the back to $1.72 lower toward the front).
Recently stronger cash prices helped Live Cattle fade the heat. They closed an average 26¢ higher Tuesday.
Negotiated cash fed cattle trade ranged from a standstill to mostly inactive on very light demand through Tuesday afternoon, according to the Agricultural Marketing Service.
Prices last week were $142/cwt. on a live basis in Nebraska and the Southern Plains and $142-$144 in the western Corn Belt. Dressed prices were $2 higher at $226.
Tuesday was one of those rare occasions where the Choice-Select spread was negative, with Choice Boxed beef cutout value $2.45 lower in the afternoon at $261.64/cwt., while Select was $1.80 higher at $263.64.
Negotiated cash fed cattle trade ranged from a standstill to mostly inactive on very light demand through Monday afternoon, according to the Agricultural Marketing Service.
Prices last week were $142/cwt. on a live basis in Nebraska and the Southern Plains and $142-$144 in the western Corn Belt. Dressed prices were at $226.
The five-area average weighted direct fed steer price last week was $1.88 higher at $142.36/cwt. The average steer price in the beef was $2.00 higher at $226.04.
Equity and futures markets were closed Monday in observance of President’s Day.
As mentioned in the previous day’s Cattle Current, Live Cattle futures were an average of 75¢ higher (37¢ to $1.37 higher) week to week on Friday, except for 30¢ lower in near Apr.
Feeder Cattle futures closed an average of $1.24 higher (15¢ to $1.80 higher) week to week on Friday except for 80¢ lower in spot Mar.
Choice boxed beef cutout value was $1.76 lower Monday afternoon at $264.09/cwt. Select was 79¢ lower at $261.84.
Negotiated cash fed cattle trade was limited on light demand in the western Corn Belt through Friday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were a few live sales at $144/cwt.
Elsewhere, trade was mostly inactive on light demand.
For the week, live prices were $2 higher in Nebraska and the Southern Plains at $142 and $1-$2 higher in the western Corn Belt at $142-$143. Dressed prices were $2 higher at $226.
Total estimated cattle slaughter last week was 663,000 head, which was 4,000 head more than the previous week and 114,000 head more than the same week last year. Total estimated year-to-date cattle slaughter of 4.49 million head is just 110,000 head fewer.
Feeder Cattle futures closing mixed, from an average of 42¢ lower in three contracts to an average of 44¢ higher.
Live Cattle futures closed an average of 35¢ lower except for unchanged to 35¢ higher in the back three contracts.
Choice Boxed beef cutout value was $3.74 lower Friday afternoon at $265.85/cwt. Select was $2.22 lower at $262.63.
Net U.S. beef export sales of 23,000 metric tons (2022) were 18% more than the previous week and 38% more than the prior four-week average, according to USDA’s U.S. Export Sales report for the week ending Feb. 10.
Increases were primarily for South Korea, Japan, Canada, Mexico, and China.
Corn futures closed mostly fractionally higher to 1¢ higher.
Soybean futures closed 3¢ to 9¢ higher.
Feeder Cattle futures lost ground Thursday, closing an average of 81¢ lower amid lighter trade and firming Corn futures.
Live Cattle futures paddled in place awaiting more direction. Other than 27¢ higher in spot Feb, they closed an average of 21¢ lower.
Corn futures closed 2¢ to 4¢ higher.
Soybean futures closed 3¢ to 5¢ higher through Mar ’23 and then mostly 1¢ lower.
Negotiated cash fed cattle trade was slow on light demand in Nebraska through Thursday afternoon, according to the Agricultural Marketing Service. There were a few live sales at $142.00-$142.50/cwt., but too few to trend.
Elsewhere, trade was limited in light demand. Although too few to trend, there were a few live trades in the Texas Panhandle at $142.
In established trade so far this week, live prices are $2 higher in Nebraska and the Southern Plains at $142 and $1-$2 higher in the western Corn Belt at $142-$143. Dressed prices are $2 higher at $226.
Choice Boxed beef cutout value was 3¢ lower Wednesday afternoon at $269.59/cwt. Select was $1.23 lower at $264.85.
Negotiated cash fed cattle trade was moderate to active on good demand in the Southern Plains through Wednesday afternoon, according to the Agricultural Marketing Service. Live prices were $2 higher at $142/cwt.
Although too few transactions to trend, live prices in Nebraska were $2-$3 higher at $142-$143 on slow trade and light to moderate demand. Dressed sales were $2 higher at $226.
Also too few to trend, there were a few live sales in the western Corn Belt steady to $3 higher at $141-$143. Dressed prices last week were $224.
Even so, Cattle futures mainly paddled in place.
Live Cattle futures closed an average of 18¢ higher.
Feeder Cattle futures closed an average 43¢ lower (10¢ to $1.27 lower) except for unchanged and 27¢ higher in the back two contracts.
Choice Boxed beef cutout value was 75¢ lower Wednesday afternoon at $269.62/cwt. Select was $1.74 lower at $266.08.
Corn futures closed 4¢ to 9¢ higher through May ’23 and then mostly 1¢ higher.
Soybean futures closed mostly 23¢ to 36¢ higher through Jan ’23 and then mostly 10¢ higher.
Higher outside markets and lower Corn futures, both due in part to less geopolitical tension in Eastern Europe, helped fuel gains in Cattle futures Tuesday.
Live Cattle futures closed an average of 52¢ higher.
Feeder Cattle futures closed an average $1.47 higher.
Corn futures closed 10¢ to 17¢ lower through the front four contracts and then mostly 5¢ to 8¢ lower.
Soybean futures closed mostly 9¢ to 18¢ lower through Jan ’23 and then 3¢ lower to 3¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were at $140/cwt. in the Southern Plains and Nebraska; $140-$142 in the western Corn Belt. Dressed trade was at $224.
Choice Boxed beef cutout value was $3.59 lower Tuesday afternoon at $270.37/cwt. Select was 93¢ lower at $267.82.
Last week’s stouter packing pace and higher cash prices helped Cattle futures edge higher Monday.
Feeder Cattle futures closed an average 57¢ higher except for unchanged in the back contract.
Live Cattle futures closed an average of 28¢ higher except for unchanged in Dec.
Negotiated cash fed cattle trade was at a standstill in all major feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were at $140/cwt. in the Southern Plains and Nebraska; $140-$142 in the western Corn Belt. Dressed trade was at $224.
The five-area direct weighted average steer price last week was 72¢ higher than the previous week at $140.48/cwt. on a live basis. The average steer price in the beef was $2.25 higher at $224.04.
Choice Boxed beef cutout value was 56¢ lower Monday afternoon at $273.96/cwt. Select was 92¢ higher at $268.75.
Corn futures closed mostly 3¢ to 5¢ higher.
Soybean futures closed mostly 1¢ to 13¢ lower through near Nov and then mostly 2¢ to 4¢ higher.
Cattle futures continued to soften Friday, perhaps with some follow-through profit taking and with surging Corn futures and sharply lower outside markets.
Feeder Cattle futures closed an average 60¢ lower.
Live Cattle futures closed mixed from an average of 49¢ lower to an average of 35¢ higher.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Friday afternoon, according to the Agricultural Marketing Service.
For the week, live prices were steady to $1 higher in the Southern Plains at $140/cwt., steady to $2 higher in Nebraska at $140 and $1-$2 higher in the western Corn Belt at $141-$142. Dressed trade was $2-$4 higher at $224.
Choice Boxed beef cutout value was 37¢ lower Friday afternoon at $274.52/cwt. Select was $1.12 lower at $267.83.
Total estimated cattle slaughter last week of 659,000 head was 20,000 head more than the previous week and 53,000 head more than the previous year. Year-to-date estimated total cattle slaughter of 3.83 million head is 120,000 head fewer (-3.0%) than the same period last year.
Corn futures closed 9¢ to 10¢ higher through Jly ‘23 and then most 4¢ higher.
Soybean futures closed mostly 9¢ to 11¢ higher.
Cattle futures started the session with optimism but eroded as the day wore on with likely pressure from profit taking and lower outside markets.
Live Cattle futures closed an average of 77¢ lower.
Feeder Cattle futures closed an average of $1.23 lower (82¢ to $1.87 lower).
Negotiated cash fed cattle trade was light to moderate on moderate demand in Nebraska through Thursday afternoon, according to the Agricultural Marketing Service. Dressed trade was $2 higher at $224/cwt. Live prices a day earlier were steady to $2 higher at $140.
Trade in the western Corn Belt was limited on light demand. There were a few live sales at $141-$142, but too few to trend. Prices last week were $140 on a live basis and $220-$222 in the beef.
In the Southern Plains, trade was limited on light demand. Live prices a day earlier were at $140.
Choice Boxed beef cutout value was 97¢ lower Thursday afternoon at $274.82/cwt. Select was $3.10 lower at $268.95.
Corn futures closed mostly 3¢ to 5¢ lower.
Soybean futures closed 10¢ to 20¢ lower in the front five contracts and then 5¢ to 15¢ lower.
Cattle futures extended gains Wednesday, supported by firmer cash prices and the beef supply and price outlook provided by the World Agricultural Supply and Demand Estimates.
Live Cattle futures closed an average of $1.04 higher (30¢ higher at the back to $1.65 higher toward the front).
Feeder Cattle futures closed an average of 71¢ higher.
Negotiated cash fed cattle trade was slow on light demand in the Southern Plains through Wednesday afternoon, according to the Agricultural Marketing Service. Live prices were steady in the Texas Panhandle at $140/cwt. and steady to $1 higher in Kansas at $140.
Elsewhere, trade was limited on light demand with too few transactions to trend. Last week, live prices were $140 on a live basis in Nebraska and the western Corn Belt. Dressed prices were $222 in Nebraska and $220-$222 in the western Corn Belt.
Choice Boxed beef cutout value was $1.67 lower Wednesday afternoon at $275.79/cwt. Select was $1.79 lower at $272.05.
Corn futures closed 10¢ to 14¢ higher in old-crop contracts and then mostly 6¢ to 9¢ higher.
Soybean futures closed 20¢ to 25¢ higher in the front eight contracts and then mostly 14¢ higher.
Cattle futures closed higher Tuesday, helped along by lower Corn and Soybean futures, as well as some betting that negotiated cash fed cattle prices will edge higher again this week.
Feeder Cattle futures closed an average of $1.51 higher in the front three contracts, then an average of 40¢ higher.
Live Cattle futures closed narrowly mixed, from 23¢ lower to 40¢ higher.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Tuesday afternoon with too few transactions to trend, according to the Agricultural Marketing Service (AMS).
Last week, live sales were at $140/cwt. in the Texas Panhandle, $139-$140 in Kansas $138-$140 in Nebraska and $140 in the western Corn Belt. Dressed trade was at $222 in Nebraska and at $220-$222 in the western Corn Belt.
Choice Boxed beef cutout value was $1.50 lower Tuesday afternoon at $277.46/cwt. Select was $1.20 lower at $273.84.
Corn futures closed 3¢ lower in the front three contracts and then mostly fractionally to 3¢ higher.
Soybean futures closed 2¢ to 12¢ lower through Jan ’23, then fractionally to 3¢ higher.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service (AMS).
Last week, live sales were at $140 in the Texas Panhandle, $139-$140 in Kansas $138-$140 in Nebraska and $140 in the western Corn Belt. Dressed trade was at $222 in Nebraska and at $220-$222 in the western Corn Belt.
The five-area direct average steer price last week was $2.81 higher at $139.66/cwt. The average steer price in the beef was $3.79 higher at $221.79.
Live Cattle futures closed an average of 27¢ lower, except for unchanged to 7¢ higher in the back three contracts.
Choice Boxed beef cutout value was 85¢ lower at $278.96/cwt. Select was $1.01 lower at $275.04
Feeder Cattle futures closed an average of 63¢ lower, under pressure from Corn futures, which closed 14¢ to 15¢ higher in the front three contracts and then mostly 5¢ to 7¢ higher.
Soybean futures closed mostly 14¢ to 28¢ higher.
Cattle futures closed narrowly mixed Friday, closing out a dynamically positive week, fueled by the bullish Cattle inventory report.
Week to week on Friday, Feeder Cattle futures closed an average of $5.17 higher ($4.57 higher toward the back to $6.47 higher in spot Mar). The CME Feeder Cattle Index closed $1.51 higher week to week on Thursday at $160.17/cwt.
During the same period, Live Cattle futures closed an average of $3.28 higher and open interest grew by about 15,000 contracts.
On Friday, however, Feeder Cattle futures closed an average of 28¢ lower, except for an average of 32¢ higher in the back two contracts.
Live Cattle futures closed an average of 27¢ higher, except for 15¢ lower in near Jun and unchanged in the back contract.
Negotiated cash fed cattle trade ranged from limited on light demand to mostly inactive on very light demand through Friday afternoon, according to the Agricultural Marketing Service (AMS).
For the week, Live sales were $3 higher in the Texas Panhandle at $140, $3-$4 higher in Kansas at $139-$140, $2-$3 higher in Nebraska at $138-$140 and $2-$3 higher in the western Corn Belt at $140. Dressed trade was $4 higher at $222.
Estimated total cattle slaughter last week of 639,000 head was 4,000 head fewer than the previous week and 13,000 head fewer than the same week last year. So far this year, estimated total cattle slaughter of 3.16 million head is 185,000 head fewer (-5.5%) than the same time last year.
Corn futures closed mostly 5¢ higher through Jly ’23 and then 1¢ to 2¢ higher.
Soybean futures closed 9¢ to 11¢ higher in the front four contracts and then 3¢ to 6¢ higher through Aug. ’23, followed by mostly 1¢ lower.
Week to week on Friday, Corn futures closed an average of 11.6¢ lower in old-crop contracts and Soybean futures closed an average of 68.8¢ higher through the front six contracts.
Negotiated cash fed cattle trade was moderate on moderate demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service (AMS).
Live sales in the Texas Panhandle were $3 higher at $140 and $3-$4 higher in Kansas at $139-$140. Earlier in the week, live trade was $2-$3 higher in Nebraska at $138-$140 and in the western Corn Belt at $140. Dressed trade was $4 higher at $222.
Cattle futures closed mixed to a touch lower Thursday on likely profit taking from the recent run-up.
Feeder Cattle futures closed an average of 21¢ lower (5¢ to 55¢).
Live Cattle futures closed mixed, from an average of 16¢ lower to an average of 33¢ higher.
Choice Boxed beef cutout value was $1.69 lower Thursday afternoon at $281.46/cwt. Select was $3.10 lower at $276.47.
Soybean futures closed mostly fractionally higher to 3¢ higher.
Corn futures closed 1¢ to 5¢ lower.
Stronger cash prices, the early-week, bullish Cattle report, the performance-depressing widespread winter storm and improved packer production helped Cattle futures take another step higher Wednesday.
Feeder Cattle futures closed an average of $2.17 higher ($1.55 to $3.175 higher).
Live Cattle futures closed an average of $1.14 higher (83¢ to $1.65 higher).
Negotiated cash fed cattle trade in Nebraska and the Western Corn Belt was moderate through Wednesday afternoon, according to the Agricultural Marketing Service. In Nebraska, live sales traded $3-$4 higher at $140/cwt. and dressed sales traded $4 higher at $222. In the Western Corn Belt, live sales traded $3 higher at $140-$141 and dressed prices were $4 higher at $222.
Trade in the Southern Plains was mostly inactive on light demand. Last week, live sales were $137 in the Texas Panhandle and $136 in Kansas.
Choice Boxed beef cutout value was $2.29 lower Wednesday afternoon at $283.15/cwt. Select was 65¢ lower at $279.57
Corn futures closed mostly down 2¢ to 12¢.
Soybean futures closed 1¢ to 16¢ higher through March ’23, then down 2¢ to 9¢.
Cattle futures extended gains Tuesday after a struggle for follow-through support from the bullish Cattle report and thoughts that packer interest will improve this week.
Live Cattle futures closed an average of 72¢ higher (28¢ to 90¢).
Feeder Cattle futures closed an average of 70¢ higher (55¢ to 93¢ higher).
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were at $137/cwt. in the Texas Panhandle, at $136 in Kansas $137 in Nebraska and at $137-$139 in the western Corn Belt. Dressed trade was steady at $218.
Choice Boxed beef cutout value Tuesday afternoon was $4.96 lower at $285.44/cwt. Select was $3.05 lower at $280.22.
Corn futures closed 4¢ to 9¢ higher in the front six contracts.
Soybean futures closed 12¢ to 38¢ higher.
Cattle futures closed higher with likely positioning ahead of what turned out to be a bullish Cattle report.
Live Cattle futures closed an average of $1.18 higher (88¢ to $1.42).
Feeder Cattle futures closed an average of $2.64 higher ($1.75 to $3.40 higher).
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were at $137/cwt. in the Texas Panhandle, at $136 in Kansas $137 in Nebraska and at $137-$139 in the western Corn Belt. Dressed trade was steady at $218.
Choice Boxed beef cutout value was 2¢ lower Monday afternoon at $290.40/cwt. Select was 14¢ lower at $283.27.
Corn futures closed mixed, from 10¢ lower to 4¢ higher.
Soybean futures closed 13¢ to 20¢ higher through Aug ’23 and then 2 higher to 3¢ lower.
Judging by estimated weekly cattle slaughter, the beef packing pace continues to improve but remains hindered.
Total cattle slaughter last week of 643,000 head was 7,000 head more than the previous week but 13,000 head less than the same week last year.
Oversold conditions and higher wholesale beef prices helped Cattle futures regain some ground Friday.
Choice Boxed beef cutout value was $1.31 higher Friday afternoon at $290.42/cwt. Select was $4.31 higher at $283.41.
Live Cattle futures closed an average of 89¢ higher, except for unchanged in the back contract.
Feeder Cattle futures closed an average of 71¢ higher (12¢ to $1.37 higher).
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Friday afternoon, according to the Agricultural Marketing Service.
For the week, live prices were steady in the Texas Panhandle at $137/cwt., $1 lower in Kansas at $136, steady to $1 lower in Nebraska at $137 and steady in the western Corn Belt at $137-$139. Dressed trade was steady at $218.
Keep in mind, USDA will release Jan. 1 cattle inventory numbers Monday afternoon.
Cattle futures mostly eased lower in light trade Thursday as traders awaited more concrete direction from the packing pace.
Feeder Cattle futures closed an average of 82¢ lower except for 20¢ higher in expiring Jan.
Live Cattle futures closed an average of 43¢ lower, except for 20¢ higher in the back contract.
Negotiated cash fed cattle trade was limited on light demand through Thursday afternoon, according to the Agricultural Marketing Service.
So far for the week, live prices are steady in the Texas Panhandle at $137/cwt., $1 lower in Kansas at $136, steady to $1 lower in Nebraska at $137 and steady in the western Corn Belt at $137-$139. Dressed trade is steady at $218.
Choice Boxed beef cutout value was 35¢ lower Thursday afternoon at $289.11/cwt. Select was 62¢ lower at $279.10.
The average dressed steer weight the week ending Jan. 15 was 922 lbs., according to the latest weekly Actual Slaughter Under Federal Inspection report. That was 6 lbs. lighter than the previous week and 3 lbs. lighter than the previous year. The average dressed heifer weight of 851 lbs. was the same as a week earlier and 1 lb. heavier than the same time last year.
Net U.S. beef export sales for 2022 totaled 14,300 metric tons the week ending Jan. 20, according to the weekly U.S. Export Sales report. Sales were primarily for South Korea, Japan, Mexico, China, and Indonesia.
Grain exports helped underpin prices.
Net U.S. corn export sales (2021-22) were 29% more than the previous week and 84% more than the prior four-week average.
Net U.S. soybean export sales were up 53% from the previous week and 77% from the prior four-week average.
Net U.S. wheat export sales were 78% higher than the previous week and up noticeably from the prior four-week average.
Corn futures closed mostly 3¢ to 6¢ lower.
Soybean futures closed 2¢ to 8¢ higher through Jan ‘23 and then mostly 1¢ lower.
Cattle futures closed higher Wednesday on apparent technical support and the notion that packer production is gaining.
Live Cattle futures closed an average of $1.11 higher.
Feeder Cattle futures closed an average of 95¢ higher (17¢ higher in waning spot Jan to $1.30 higher toward the back).
Negotiated cash fed cattle trade was slow on light demand in the Texas Panhandle through Wednesday afternoon, according to the Agricultural Marketing Service. Live sales were steady at $137/cwt.
Trade was slow on moderate demand in Kansas at $136-$137, mostly $1 lower at $136.
In Nebraska and the western Corn Belt, trade was limited on light demand. So far this week, in both regions, live sales are steady to $2 lower at $137 and dressed trade is steady at $218.
Wholesale beef prices continued to falter, suggesting the seasonal top may have been breeched. Choice Boxed beef cutout value was $2.92 lower Wednesday afternoon at $289.46/cwt. Select was $3.60 lower at $279.72.
Soybean futures surged on South American weather and dragged Corn futures along.
Soybean futures closed 21¢ to 32¢ higher through the front five contracts and then mostly 5¢ to 15¢ higher.
Corn futures closed 3¢ to 7¢ higher through the front six contracts and then mostly 1¢ lower.
Negotiated cash fed cattle trade was slow on light demand through Tuesday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend in any region, there were some live sales in the Southern plains and Nebraska at $137/cwt. Early dressed trades were $218.
Last week, live prices were at $137/cwt. in the Southern Plains, $137-$138 in Nebraska and at $137-$139 in the western Corn Belt. Dressed prices were $218.
Cattle futures continued to lose ground Tuesday, unable to escape the uncertain packing pace and volatile outside markets.
Lower wholesale beef prices on the day, perhaps signaling a near seasonal top, added to Live Cattle angst. Live Cattle futures closed an average of 22¢ lower, except for an average of 29¢ higher in three contracts at either end of the board.
Choice Boxed beef cutout value was $1.12 lower Tuesday afternoon at $292.38/cwt. Select was $1.47 lower at $283.32.
Nearby Corn futures prices beyond the $6.00 mark added pressure to Feeder Cattle futures, which closed an average of $1.14 lower, except for 7¢ higher in spot Jan.
Corn futures closed mostly 2¢ to 8¢ higher.
Soybean futures closed mostly 11¢ to 13¢ higher after 4¢ to 9¢ higher in the front four contracts.
As expected, significantly higher feedlot placements revealed in Friday’s monthly Cattle on Feed report cast a pall over Cattle futures Monday, darkened by wildly volatile outside markets. However, they recovered some lost ground by the end of the session.
Feeder Cattle futures closed an average of $1.46 lower (92¢ to $2.05 lower).
Live Cattle futures closed an average of $1.03 lower (25¢ to $2.02 lower).
Negotiated cash fed cattle trade ranged from mostly inactive with very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were at $137/cwt. in the Southern Plains, $137-$138 in Nebraska and at $137-$139 in the western Corn Belt. Dressed prices were $218.
The five-area direct average steer price last week was 89¢ higher on a live basis at $137.50/cwt. The average steer price in the beef was 7¢ lower at $217.92.
Choice Boxed beef cutout value was $1.09 higher Monday afternoon at $293.50/cwt. Select was $2.46 higher at $284.79.
Corn futures closed mostly 2¢ higher, riding the coattails of Wheat futures, which remain bolstered by the geopolitical tension in eastern Europe.
Soybean futures closed mostly 7¢ to 13¢ lower on rains in South America.
Despite sharply lower outside markets, a bounce higher in grain prices and the ongoing slower beef packing pace, cash cattle and futures prices held their own last week.
Negotiated cash fed cattle trade was mostly inactive on light demand through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
For the week, live prices were steady to $1 higher in the Texas Panhandle at $137, $1-$2 higher in Kansas at $137. Prices were steady to $1 higher in Nebraska at $137-$138 and $1 lower in the western Corn Belt at $137. Dressed prices were steady at $218.
Cattle futures leaked lower Friday amid stagnant cash prices and bearish outside markets.
Live Cattle futures closed an average of 63¢ lower (25¢ to $1.07 lower), except for unchanged and 5¢ higher in the back two contracts. Week to week, they closed mixed, from an average of 19¢ lower in the front four contracts to an average of 52¢ higher.
Choice Boxed beef cutout value was 57¢ lower Friday afternoon at $292.41/cwt. Select was 15¢ higher at $282.33. Week to week, though, Choice was $8.10 higher and Select was $8.36 higher.
Estimated total cattle slaughter last week was 636,000 head, which was 18,000 head more than the previous week, but 26,000 head fewer than the same week last year. Estimated year-to-date total cattle slaughter of 1.87 million head is 161,000 head fewer (-7.9%) than last year. Estimated year-to-date beef production is 147.5 million lbs. less (-8.6%) at 1.57 billion lbs.
Net U.S. beef export sales were 12,800 metric tons for the week ending Jan. 13, according to the weekly U.S. Export Sales report. Sales were primarily for China, Japan, South Korea, Mexico, and Taiwan.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
So far this week, live prices are steady to $1 higher in the Texas Panhandle at $137and $1-$2 higher in Kansas at $137. Prices are steady to $1 higher in Nebraska at $137-$138. Although too few to trend, there were a few live trades in the western Corn Belt at $137, which was $1 lower. Dressed prices are steady at $218.
Cattle futures softened Thursday after follow-through support early in the session.
Live Cattle futures closed narrowly mixed, from an average of 17¢ lower in the front five contracts; unchanged to an average of 14¢ higher the rest of the way.
Feeder Cattle futures closed an average of 37¢ lower, except for unchanged to 75¢ higher in the back three contracts.
Choice Boxed beef cutout value was $1.38 higher Thursday afternoon at $292.98/cwt. Select was $1.75 higher at $282.18.
The average dressed steer weight the week ending Jan. 8 was 928 lbs., according to USDA’s Actual Slaughter Under Federal Inspection Report. That was the same as a week earlier but 5 lbs. heavier than the previous year. The average dressed heifer weight was 851 lbs., which was 4 lbs. lighter than the previous week and the same as a year earlier.
Weather in South America and tension between Russia and Ukraine continued to dominate grain market commentary Thursday.
Soybean futures closed 27¢ to 34¢ higher through the front four contracts and then mostly 9¢ to 15¢ higher.
Corn futures closed mostly 2¢ to 4¢ lower.
Improving packer production — 117,000 head Tuesday — helped boost Live Cattle futures an average of $1.11 higher on Wednesday.
The uptick in Live Cattle, helped boost Feeder Cattle futures an average of 73¢ higher, except for 50¢ lower in spot Jan, despite surging Corn futures prices.
Grain futures surged on Wednesday, led by soybeans on weather concerns in South American and wheat based on mounting tension between Russia and Ukraine.
Soybean futures closed mostly 18¢ to 30¢ higher.
Corn futures closed mostly 7¢ to 11¢ higher.
Negotiated cash fed cattle trade was slow on light to moderate demand in the Southern Plains and Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service.
So far this week, live prices are steady to $1 higher in the Texas Panhandle at $137, $1-$2 higher in Kansas at $137. Prices are steady in Nebraska at $137 and in the western Corn Belt at $138. Dressed prices are steady at $218.
Choice Boxed beef cutout value was $2.11 higher Wednesday afternoon at $291.60/cwt. Select was $2.04 higher at $280.43.
Uncertainty about the pace of packer production continued to weigh on Live Cattle futures Tuesday, as wholesale beef prices continue to climb for the same reason. Sharply lower outside markets added to bearish sentiment.
Live Cattle futures closed an average 37¢ lower.
Choice Boxed beef cutout value was $1.63 higher Tuesday afternoon at $289.49/cwt. Select was $1.34 higher at $278.39.
Feeder Cattle futures drifted lower with the lack of support from the Live side. They closed an average 62¢ lower (20¢ lower at the back to $1.25 lower at the front).
Negotiated cash fed cattle trade was slow on light to moderate demand in Nebraska through Tuesday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, early trade was steady at $137/cwt. on a live basis and $128 in the beef.
Elsewhere, trade ranged from mostly inactive on light demand to a standstill.
Last week, live prices were at $136-$137 in the Texas Panhandle, $135-$136 in Kansas and $138 in the western Corn Belt, where dressed trade was at $218.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service. There were too few transactions to trend.
Last week, live prices were at $136-$137/cwt. in the Texas Panhandle, $135-$136 in Kansas, $137 in Nebraska and $138 in the western Corn Belt. Dressed trade was at $218.
Choice Boxed beef cutout value was $3.55 higher Monday afternoon at $287.86/cwt. Select was $3.08 higher at $277.05.
Futures and equity markets were closed Monday in observance of Martin Luther King Day.
Negotiated cash fed cattle trade ranged from very limited on light demand to a standstill through Friday afternoon, according to the Agricultural Marketing Service. There were too few transactions to trend.
For the week, live prices were $1-$2 lower in the Texas Panhandle at $136-$137/cwt. and $135-$136 in Kansas. They were $1-$3 lower in Nebraska at $137 and steady to $3 lower in the western Corn Belt at $137-$138. Dressed trade was $2 lower at $218.
Week to week through Thursday, the five-area direct average steer price was $2.00 lower on a live basis at $136.58/cwt. The average price in the beef was $2.00 lower at $217.99.
Estimated total cattle slaughter last week was 621,000 head, just 1,000 head more than the previous week and 31,000 head fewer than the same week last year.
Live Cattle futures closed an average of 59¢ higher, except for unchanged and 37¢ lower in the back two contracts, supported by climbing wholesale beef prices.
Choice Boxed beef cutout value was $1.84 higher Friday afternoon at $284.31/cwt. Select was $1.21 higher at $273.97.
Feeder Cattle futures closed narrowly mixed, from an average of 23¢ lower to an average of 5¢ higher with pressure from front-month Corn futures.
Corn futures closed fractionally higher to 8¢ higher in the front six contracts, and then mostly 5¢ to 6¢ lower.
Soybean futures closed 8¢ to 13¢ lower.
Feeder Cattle futures gained Thursday, closing an average $1.33 higher, helped by declining front-month Corn futures.
Live Cattle futures edged higher, supported by climbing wholesale beef prices, despite the sluggish packing pace. They closed an average 40¢ higher, except for unchanged in the back contract.
Choice Boxed beef cutout value was $2.93 higher Thursday afternoon at $282.86/cwt. Select was $1.78 higher at $272.76.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Thursday afternoon, according to the Agricultural Marketing Service. There were too few transactions to trend.
So far this week, live prices are $1-$2 lower in the Texas Panhandle at $136-$137/cwt. and $135-$136 in Kansas. They’re $1-$3 lower in Nebraska at $137 and steady to $3 lower in the western Corn Belt at $137-$138. Dressed trade is $2 lower at $218.
Corn futures closed 3¢ to 11¢ lower through the front four contracts, and then mostly 1¢ to 2¢ higher.
Soybean futures closed 11¢ to 26¢ lower through the front six contracts, and then mostly 2¢ to 3¢ higher.
Negotiated cash fed cattle trade was slow on light demand in Kansas through Wednesday afternoon, with live trade $1 lower than the previous day and $3 lower than the previous week at $135/cwt.
Although too few transactions to trend, dressed trade in Nebraska was $2 lower at $218. Live prices there last week were $138-$140.
Trade was limited on light demand in the Texas Panhandle, where live prices last week were $138 and in the western Corn Belt where prices were $138-$140. Dressed trade in the western Corn Belt last week was at $220.
Softer cash prices in the North, after weakness in the South, helped pressure Cattle futures Wednesday.
Feeder Cattle futures closed an average of 62¢ lower (10¢ to $1.35 lower).
Live Cattle futures closed an average of 55¢ lower (17¢ to $1.10 lower), except for unchanged to 37¢ higher in the back three contracts.
Choice Boxed beef cutout value was $1.71 higher Wednesday afternoon at $279.93/cwt. Select was $2.35 higher at $270.98
Soybean futures closed mostly 10¢ to 13¢ higher, likely supported by the World Agricultural Supply and Demand Estimates (WASDE-see below).
Corn futures closed mostly fractionally higher to 6¢ higher, except for 1¢ to 2¢ lower in the front three contracts.
Negotiated cash fed cattle trade was very limited on light demand in the Southern Plains through Tuesday afternoon. Early live sales were mostly $1 lower in the Texas Panhandle at $137/cwt. and mostly $1-$3 lower in Kansas at $135-$137.
Trade was mostly inactive on light demand in Nebraska and the western Corn Belt. Prices in those regions last week were $138-$140 on a live basis and $220 in the beef.
Choice Boxed beef cutout value was $2.18 higher Tuesday afternoon at $278.22/cwt. Select was $2.13 higher at $268.63.
Cattle futures found some traction Tuesday with support from higher outside markets and healthier looking packer processing, for a day at least.
Feeder Cattle futures closed an average of 57¢ higher (10¢ to $1.15 higher), except for 67¢ lower in the back contract.
Live Cattle futures closed an average of 52¢ higher (12¢ to $1.42 higher), except for 5¢ lower toward the back.
Corn and Soybean futures paddled in place ahead of Wednesday’s World Agricultural Supply and Demand Estimates.
Soybean futures closed mostly unchanged to fractionally mixed after 1¢ to 2¢ higher in the front four contracts.
Corn futures closed mostly fractionally mixed.
Inflation jitters weighed on most commodities and outside markets Monday. Cattle futures were also pressured by recently slower packer processing and fears of back-logging cattle.
Live Cattle futures closed an average 86¢ lower (17¢ lower at the back to $1.47 lower toward the front), amid heavy trade .
Feeder Cattle futures closed an average 81¢ lower (5¢ lower at the back to $1.42 lower).
Negotiated cash fed cattle ranged from mostly inactive on very light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were steady in the Texas Panhandle at $138/cwt., but steady to $2 lower at $136-$138 in Kansas and at $138-$140 in Nebraska and the western Corn Belt. Dressed trade was also steady to $2 lower at $220.
The five-area direct average steer price was $1.18 lower on a live basis last week at $138.41/cwt. The average price in the beef was 91¢ lower at $219.98.
Choice Boxed beef cutout value was $4.22 higher Monday afternoon at $276.04/cwt. Select was $5.40 higher at $266.50/cwt.
As for grains, Soybean futures softened to start the week with rains forecast for South America.
Soybean futures closed 21¢ to 26¢ lower through Nov ‘22 then 14¢ to 19¢ lower through Sep ’23 and mostly 4¢ lower across the rest of the board.
Corn futures closed fractionally mixed to 7¢ lower through May ’23 and then mostly 4¢ to 5¢ higher.
Negotiated cash fed cattle trade was limited on light demand in all feeding regions through Friday afternoon, according to the Agricultural Marketing Service, with too few transactions to trend.
For the week, live prices were steady in the Southern Plains at $138/cwt., but steady to $2 lower at $138-$140 in Nebraska and the western Corn Belt. Dressed trade was also steady to $2 lower at $220.
Cattle futures closed narrowly mixed Friday, with support from higher wholesale beef prices, but with continued concern about slower cattle harvest.
Estimated cattle slaughter last week of 620,000 head was 32,000 head fewer than the same week last year.
Feeder Cattle futures closed narrowly mixed, from an average of 36¢ lower to an average of 36¢ higher.
Live Cattle futures closed an average 20¢ higher, except for an average of 29¢ lower in three contracts.
Choice boxed beef cutout value was $3.26 higher Friday afternoon at $271.82/cwt. Select was 46¢ higher at $26.10.
Grain futures gained Friday with ongoing bearish weather in South America and expectations to see corn and soybean estimates in that region trimmed when the monthly World Agricultural Supply and Demand Estimates come out Wednesday.
Soybean futures closed 19¢ to 24¢ higher through the front six contracts and then mostly 11¢ to 14¢ higher.
Corn futures closed mostly 3¢ higher through Sep ’23 and then mostly 7¢ to 8¢ higher.
Negotiated cash fed cattle trade was limited on light demand in all feeding regions through Thursday afternoon, according to the Agricultural Marketing Service, with too few transactions to trend.
For the week, live prices are steady in the Southern Plains at $138/cwt., but steady to $2 lower at $138-$140 in Nebraska and the western Corn Belt. Dressed trade is also steady to $2 lower at $220.
Cattle futures inched higher Thursday, although skittishness remains concerning recently slower cattle harvest amid anecdotal reports of increasing health challenges among workers.
Live Cattle futures closed an average 34¢ higher, except for an average of 12¢ lower in two contracts.
Feeder Cattle futures closed an average 69¢ higher, except for 32¢ lower in Sep.
Choice boxed beef cutout value was $1.63 higher Thursday afternoon at $268.56/cwt. Select was $1.03 higher at $260.64/cwt.
Soybean futures closed 3¢ to 7¢ lower through Aug ‘22 and then mostly 7¢ to 14¢ higher.
Corn futures closed 1¢ to 4¢ higher at either end of the board and fractionally mixed to 8¢ higher in the middle.
Negotiated cash fed cattle trade was slow to moderate on moderate demand in Nebraska and the western Corn Belt through Wednesday afternoon, according to the Agricultural Marketing Service. Dressed trade in Nebraska was $2 lower at $220/cwt. Although too few to trend, there were some early live sales at $138, compared to $140 last week.
There were some early live sales in the western Corn Belt steady at $140 and a few in the beef steady to $2 lower at $220, but too few of either to trend.
Trade in the Southern Plains was limited on light demand. A light test sold steady on a live basis at $138.
Cattle futures closed mixed Wednesday, supported by moderating grain futures price gains but pressured by the weaker cash outlook.
Live Cattle futures closed an average of 41¢ lower, except for an average of 32¢ higher in two contracts.
Feeder Cattle futures closed an average 32¢ higher, except for unchanged to an average of 36¢ lower in the front three contracts.
Choice boxed beef cutout value was 11¢ higher Wednesday afternoon at $266.93/cwt. Select was 38¢ higher at $259.61/cwt.
Soybean futures closed 4¢ to 6¢ higher through Aug ‘23 and then 2¢ to 3¢ higher.
Corn futures closed 4¢ to 7¢ lower through the front four contracts and then mostly 1¢ lower.
Negotiated cash fed cattle trade was at a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were at $138/cwt. in the Southern Plains and $140 in Nebraska and the western Corn Belt. Dressed trade was at $220-$222.
Surging corn futures took Cattle futures down a peg Tuesday, especially Feeder Cattle.
Feeder Cattle futures closed an average of $1.99 lower (70¢ lower toward the back to $3.57 lower in spot Jan).
Live Cattle futures closed an average of 77¢ lower (5¢ to $1.52 lower).
Choice boxed beef cutout value was 79¢ higher Tuesday afternoon at $266.82/cwt. Select was 33¢ higher at $259.23/cwt.
Bearish South American weather lit a fuse beneath soybeans, leading other grain futures along for the ride.
Soybean futures closed 27¢ to 34¢ higher through Aug ‘22 and then 12¢ to 18¢ higher in the next four contracts; mostly 2¢ higher the rest of the way.
Corn futures closed 10¢ to 20¢ higher through the front four contracts and then mostly 4¢ to 8¢ higher.
Negotiated cash fed cattle trade ranged from a standstill to mostly inactive with very light demand through Monday afternoon, according to the Agricultural Marketing Service.
Last week live prices were at $138/cwt. in the Southern Plains and $140 in Nebraska and the western Corn Belt. Dressed trade was at $220-$222.
The five-area direct average steer price last week of $139.59/cwt. on a live basis was $3.95 higher than the previous week. The average steer price in the beef was $3.58 higher at $220.89.
Year-to-date estimated total cattle slaughter through Dec. 27 was 32.66 million head, according to USDA. That was 958,000 head more (+3.0%) than a year earlier. Total estimated beef production of 27.05 billion lbs. was 694.4 million lbs. more (+2.6%).
Cattle futures eased lower Monday awaiting cash direction.
Live Cattle futures closed an average of 38¢ lower, not counting newly minted away-Jun.
Feeder Cattle futures closed an average of 45¢ lower.
Choice boxed beef cutout value was 77¢ higher Monday afternoon at $266.03/cwt. Select was 67¢ higher at $258.90/cwt.
Corn futures closed mostly 1¢ to 2¢ higher, except for fractionally lower to 4¢ lower in the front four contracts.
Soybean futures closed 12¢ to 16¢ higher through Sep ‘23 and then 7¢ to 8¢ higher.
Negotiated cash fed cattle prices gained last week amid holiday-lightened trade. For the week, based on USDA reports available through Thursday, live prices were $2 higher in Nebraska at $140/cwt., $3 higher in the Texas Panhandle at $138 and $5 higher in the western Corn Belt at $140. Dressed prices of $220-$222 were $3-$4 higher in Nebraska and $3-$5 higher in the western Corn Belt.
Live Cattle futures traded sideways amid light trade on Friday. They closed narrowly mixed, from an average of 16¢ lower in the front three contracts to an average of 33¢ higher.
Feeder Cattle futures were traded lightly, too, but had the benefit of further erosion in front-month Corn futures. They closed an average of 81¢ higher (5¢ higher at the back to 95¢ higher toward the front), except for 35¢ lower in Sep.
Stronger cash prices and stabilizing wholesale beef prices enabled Cattle futures to gain from Monday through Friday.
Live Cattle futures closed an average of $1.06 higher (42¢ to $1.60 higher). Feeder Cattle futures closed an average of $4.15 higher during the same period ($2.37 higher at the back to $6.67 higher toward the front). The CME Feeder Cattle Index closed $5.99 higher week to week on Thursday at $165.21/cwt.
Choice boxed beef cutout value was 78¢ higher on Thursday at $265.26, compared to Monday. Select was $3.05 higher at $258.23.
Grain futures lost ground throughout the week, due in part to rains in South America.
Corn futures closed an average of 17¢ lower on Friday through the front six contracts, compared to Monday, except for fractionally lower in spot Mar. During the same period, Soybean futures closed an average of 28¢ lower through the front six contracts.
Negotiated cash fed cattle trade was limited on light demand in the Texas Panhandle through Thursday afternoon, but early live sales were $3 higher than last week at $138/cwt.
Elsewhere, trade was mostly at a standstill.
Earlier in the week, live prices in Nebraska and the western Corn Belt were at $140/cwt., which was $5 higher in Nebraska and $2 higher in the western Corn Belt. Dressed prices of $220-$222 were $3-$4 higher in Nebraska and $3-$5 higher in the western Corn Belt.
Cattle futures were narrowly mixed Thursday, as some traders checked out for the year. The weekly U.S. Export Sales report for the week could have added some pressure to Live Cattle. Net U.S. beef export sales for the week ending Dec. 23 were 48% less than the prior week and 55% less than the previous four-week average.
Live Cattle futures closed an average of 36¢ lower.
Feeder Cattle futures closed an average of 46¢ higher (5¢ higher at the back to 95¢ higher toward the front), except for 35¢ lower in Sep.
Choice boxed beef cutout value was 45¢ lower Thursday afternoon at $265.26/cwt. Select was $1.14 higher at $258.23/cwt.
Grain futures closed lower Thursday with rains in South America and position squaring.
Corn futures closed 9¢ to 10¢ lower in the front four contracts and then mostly 5¢ to 6¢ lower.
Soybean futures closed 20¢ to 30¢ lower in the front six contracts and then mostly 5¢ to 7¢ lower.
Negotiated cash fed cattle trade was limited on light demand in Nebraska and the western Corn Belt through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service. So far this week live prices in those regions are at $140/cwt., which is $5 higher in Nebraska and $2 higher in the western Corn Belt. Dressed prices of $220-$222 are $3-$4 higher in Nebraska and $3-$5 higher in the western Corn Belt.
Trade in the Southern Plains was at a standstill. Live prices there last were $135.
Cattle futures, especially Feeder Cattle, climbed higher Wednesday, buoyed by cash market gains and higher wholesale beef prices.
Feeder Cattle futures closed an average of $1.79 higher (97¢ to $2.82 higher with most strength in the front months).
Live Cattle futures closed an average of $1.01 higher (65¢ higher to $1.37 higher).
Choice boxed beef cutout value was $1.05 higher Wednesday afternoon at $265.71/cwt. Select was $1.00 higher at $257.09/cwt.
Corn futures closed mostly 2¢ to 4¢ higher after fractionally mixed in the front three contracts.
Soybean futures closed mostly 2¢ to 8¢ higher through Jan ‘23 and then 6¢ to 13¢ higher.
Although it was slow trade and light demand, negotiated cash fed cattle prices began the week $2 higher on a live basis at $140/cwt. in the western Corn Belt through Tuesday afternoon, according to the Agricultural Marketing Service. Dressed prices there last week were at mainly $217.
Elsewhere, trade ranged from a standstill to limited on light demand with too few transactions to trend. Last week, live prices were at $135/cwt. in the Southern Plains and Nebraska. Dressed trade was at $217-$218.
The stronger cash outlook and recently higher boxed beef prices helped Live Cattle futures firm. They closed an average of 24¢ higher (from 5¢ higher to $1.17 higher in almost-spent Dec).
Choice boxed beef cutout value was 18¢ higher Tuesday afternoon at $264.66/cwt. Select was 91¢ higher at $256.09/cwt.
Lower Corn futures prices helped Feeder Cattle close an average of $1.19 higher.
Corn futures closed lower on likely profit taking. Prices were 8¢ to 10¢ lower through May ‘23 and then mostly 4¢ to 5¢ lower.
Soybean futures paused from steep gains in the previous session, closing mostly 3¢ to 4¢ lower.
Cattle futures closed mixed amid light trade to start the week with front-month Feeder Cattle under the most pressure from increasing Corn futures.
Feeder Cattle futures closed mixed, from an average of 57¢ lower across the front half of the board to an average of 17¢ higher.
Live Cattle futures closed narrowly mixed (from an average of 19¢ lower to an average of 19¢ higher.
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were at $135/cwt. in the Southern Plains and Nebraska, and at $138 in the western Corn Belt. Dressed trade was at $217-$218.
The five-area direct weighted average steer price last week was $1.55 lower at $135.64. It was $1.12 lower in the beef at $217.30.
Choice boxed beef cutout value was $1.54 higher Monday afternoon at $264.48/cwt. Select was $2.23 higher at $255.18/cwt.
Nearby Corn and Soybean futures climbed on Monday, presumably in response to the continued hot and dry weather forecast in South America.
Corn futures closed 9¢ through the front three contracts and then mostly 2¢ to 3¢ higher.
Soybean futures closed 26¢ to 30¢ higher through the front five contracts and then mostly 7¢ to 10¢ higher.
Markets head into what will be a long holiday weekend for many on a positive note.
Cattle futures gained again Thursday with traders apparently content to position on the plus side heading into the long weekend. Although trade was holiday-light, open interest in Live Cattle expanded the last two days. Higher outside markets added support.
Feeder Cattle futures closed an average of $1.25 higher (72¢ higher at the back to $1.82 higher toward the front).
Live Cattle futures closed an average of $1.22 higher (70¢ higher toward the back to $2.25 higher toward the front).
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Thursday afternoon, according to the Agricultural Marketing Service.
For the week, live prices are $1 lower in the Texas Panhandle at $135/cwt. and $1-$3 lower in Kansas and Nebraska at $135. Dressed trade in Nebraska is steady to $1 lower at $217-$218. Last week, live prices were at $138 in the western Corn Belt and dressed trade was at $217-$218.
Choice boxed beef cutout value was $1.08 higher Thursday afternoon at $262.94/cwt. Select was $2.12 higher at $252.95/cwt.
Corn futures closed mostly 1¢ to 3¢ higher.
Soybean futures closed 3¢ to 7¢ higher through Sep ‘22 and then mostly 6¢ lower.
Negotiated cash fed cattle trade ranged from limited on light demand to slow on moderate demand through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, various reports suggested prices were a touch higher than earlier in the week, supported by the bounce in futures.
So far this week, live prices are $1 lower in the Texas Panhandle at $135/cwt. and $1-$3 lower in Kansas and Nebraska at $135. Dressed trade in Nebraska is steady to $1 lower at $217-$218. Last week, live prices were at $138 in the western Corn Belt and dressed trade was at $217-$218.
Cattle futures extended recent gains Wednesday amid lighter pre-holiday trade.
Feeder Cattle futures closed an average of 58¢ higher (10¢ to 95¢ higher).
Live Cattle futures closed an average of 66¢ higher.
Choice boxed beef cutout value was 47¢ higher Wednesday afternoon at $261.86/cwt. Select was 91¢ higher at $250.83/cwt.
Corn futures closed 3¢ to 4¢ higher through Sep ‘22, and then mostly 1¢ higher.
Soybean futures closed 15¢ to 22¢ higher through Sep ‘22 and then mostly 7¢ to 8¢ higher.
Cattle futures bounced back Tuesday from recently oversold conditions, with more optimistic outside markets, despite softer cash prices and the shorter harvest schedule through the remainder of the year.
Feeder Cattle futures closed an average of $1.75 higher.
Live Cattle futures closed an average of 99¢ higher (85¢ to $1.17 higher).
Negotiated cash fed cattle trade ranged from limited on light demand to mostly inactive on light demand through Tuesday afternoon, according to the Agricultural Marketing Service. Although there were too few transactions for a trend, some live sales traded at $135/cwt. in the Texas Panhandle and Nebraska.
Last week, live prices were $2-$4 lower in Kansas and Nebraska at $136-$138/cwt. They were $4 lower in the Texas Panhandle at $136 and steady to $2 lower in the western Corn Belt at $138. Dressed prices were $2 lower in Nebraska at $218 and steady to $3 lower in the western Corn Belt at $217-$218.
Choice boxed beef cutout value was 99¢ lower Tuesday afternoon at $261.39/cwt. Select was 75¢ lower at $249.92/cwt.
Corn futures closed 4¢ to 8¢ higher through Jly ‘23, and then mostly 1¢ to 2¢ higher.
Soybean futures closed 10¢ to 19¢ higher through Sep ‘22 and then fractionally lower to 5¢ higher.
Negotiated cash fed cattle trade was limited on light demand in Nebraska through Monday afternoon. Although too few transactions to trend, there were some live trades in the region at $135/cwt. Elsewhere, trade was at a standstill, according to the Agricultural Marketing Service.
Last week, live prices were $2-$4 lower in Kansas and Nebraska at $136-$138/cwt. They were $4 lower in the Texas Panhandle at $136 ad steady to $2 lower in the western Corn Belt at $138. Dressed prices were $2 lower in Nebraska at $218 and steady to $3 lower in the western Corn Belt at $217-$218.
Cattle futures trended lower Monday with softer cash prices, holiday-limited harvest schedules on the books and no support from outside markets.
Live Cattle futures closed an average of 34¢ lower, except for 10¢ higher in away Feb.
Feeder Cattle futures closed an average of 75¢ lower (2¢ lower at the back to $1.20 lower toward the front), except for 5¢ higher in Oct.
Choice boxed beef cutout value was 63¢ lower Monday afternoon at $262.38/cwt. Select was $2.39 higher at $250.67.
Corn futures closed mostly 1¢ to 2¢ lower.
Soybean futures closed mostly 2¢ to 6¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill in all major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $2 lower in Kansas at $138/cwt. and $4 lower in the Texas Panhandle at $136. Dressed prices were $2 lower in Nebraska at $218.
Estimated total cattle slaughter last week was 657,000 head, which was 11,000 head fewer than the prior week. Year-to-date estimated total cattle slaughter of 32.17 million head was 886,000 head more (+2.8%) than the same period last year. Estimated year-to-date before production of 26.64 billion lbs. is 628 million lbs. more (+2.4%) than last year.
Cattle futures limped lower Friday, pressured by softer cash prices and pre-holiday positioning. Increasing carcass weights amid declining wholesale beef prices added weight.
The average dressed steer weight the week ending Dec. 4 was 928 lbs., according to USDA’s Actual Slaughter Under Federal Inspection report. That was 2 lbs. heavier than the previous week, 6 lbs. heavier than two weeks earlier and the same week a year earlier. The average dressed heifer weight was 4 lbs. heavier than the previous week at 851 lbs. and 1 lb. heavier than the same week last year.
Feeder Cattle futures closed an average of $1.78 lower (95¢ lower at the back to $2.62 lower toward the front).
Live Cattle futures closed an average of 61¢ lower.
Choice boxed beef cutout value was 4¢ higher Friday afternoon at $263.01/cwt. Select was 14¢ higher at $248.28.
Corn futures closed 1¢ to 2¢ higher in the front three contracts and then mostly fractionally lower.
Soybean futures closed 6¢ to 10¢ higher in the front five contracts and then mostly unchanged to fractionally lower.
Negotiated cash fed cattle trade was limited on light demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, live prices are $2 lower in Kansas at $138/cwt. and $4 lower in the Texas Panhandle at $136. Dressed prices are $2 lower in Nebraska at $218.
Last week, live prices were at $140 in Colorado and $138-$140 in Nebraska and the western Corn Belt. Dressed prices in the western Corn Belt were $218-$220.
Cattle futures were narrowly mixed Thursday with lackluster trade.
Live Cattle futures closed an average of 28¢ higher, except for 5¢ lower in Jun.
Feeder Cattle futures closed mixed, from an average of 35¢ lower in five contracts to and average of 31¢ higher.
Choice boxed beef cutout value was $2.71 higher Thursday afternoon at $262.97/cwt. Select was 69¢ higher at $248.14.
Corn futures closed mostly 3¢ to 6¢ higher, boosted by positive weekly U.S. export sales.
Soybean futures closed 10¢ to 14¢ higher through the front four contracts and then mostly 5¢ higher.
Negotiated cash fed cattle prices lost some ground Wednesday. Live prices in the Texas Panhandle were $4 lower at $136/cwt., on slow trade and light demand, according to the Agricultural Marketing Service. Although too few to trend, there some early dressed sales in Nebraska $2 lower at $218.
Cattle futures sagged lower, pressured by softer cash prices and reports of reduced production at some plants due to weather.
Live Cattle futures closed an average of $1.05 lower (60¢ to $1.78 lower).
Feeder Cattle futures closed an average of $1.41 lower (83¢ to $1.93 lower).
Choice boxed beef cutout value was 46¢ lower Wednesday afternoon at $260.26/cwt. Select was $1.35 lower at $247.45.
Corn futures closed 4¢ to 5¢ lower through Jly ’22, then down 1¢ to 2¢.
Soybean futures closed fractionally higher to 3¢ higher through Jly ’22, and then mostly 2¢ to 4¢ lower.