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 Current Podcast—May 22, 2024
Cattle Current Podcast—May 21, 2024
Cattle Current Podcast—May 20, 2024
Cattle Current Podcast—May 17, 2024
Cattle Current Podcast—May 16, 2024
Cattle Current Podcast—May 15, 2024
Cattle Current Podcast—May 14, 2024
Cattle Current Podcast—May 13, 2024
Cattle Current Podcast—May 10, 2024
Cattle Current Podcast—May 9, 2024
Cattle Current Podcast—May 8, 2024
Cattle Current Podcast—May 7, 2024
Cattle Current Podcast—May 6, 2024
Cattle Current Podcast—May 3, 2024
Cattle Current Podcast—May 2, 2024
Cattle Current Podcast—May 5, 2024
Cattle Current Podcast—Apr. 30, 2024
Cattle Current Podcast—Apr. 29, 2024
Cattle Current Podcast—Apr. 26, 2024
Cattle Current Podcast—Apr. 25, 2024
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Gorse Culture PODcast : The H.R. Detective Agency!
The Ramsey Show
Planet Money