Episode Details

Negotiated cash fed cattle trade was limited on light to moderate demand in Kansas through Friday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some FOB live trades at $235/cwt. Established trade for the week was $10-$11 lower at $237-$238.

Trade was limited on moderate demand in the western Corn Belt. Although too few transactions to trend, there were some FOB live trades at $230-$235 and some dressed delivered trades at $365-$370. Established FOB live prices for the week were $8-$15 lower at $233-$240. Dressed delivered prices in the western Corn Belt the previous week were $393.

In Nebraska, trade was mostly inactive on light demand. Established FOB live trade for the week was mostly $8 lower at mainly $240 and dressed delivered prices were $10-$13 lower at mostly $380.

Choice boxed beef cutout value was $1.57 lower Friday afternoon at $366.81. Select was 40¢ lower at $355.29. Week to week on Friday, Choice boxed was $15.87 lower and Select was $13.94 lower.

Sharply lower negotiated cash fed cattle prices the last two weeks and eroding wholesale beef values continued to weigh on Cattle futures Friday.

Live Cattle futures were an average of $1.88 lower. Feeder Cattle futures were an average of $1.57 lower.

Week to week on Friday, Live Cattle futures closed an average of $9.16 lower. That’s an average of $13.28 lower over the last two weeks. Feeder Cattle futures were an average of $13.61 lower. That’s an average of $21.63 lower over the last two weeks.

Grain and Soybean futures closed higher Friday, buoyed by war premium tied to the Black Sea trade disruptions stemming from the war between Russia and Ukraine, higher oil prices tied to the U.S.-Iran war and perhaps some added weather premium.

Kansas City HRW Wheat futures were 10¢ to 15¢ higher. Soybean futures were mostly 5¢ to 9¢ higher. Corn futures were mostly 2¢ to 3¢ higher. They were an average of 7’2¢ higher through the front six contracts, week to week on Friday.