Cattle Current Market Update with Wes Ishmael

Cattle futures on Thursday continued to retrace higher from the early-week meltdown, with odds increasing for steady to higher negotiated cash fed cattle prices this week.

Toward the close, Live Cattle futures were an average of $2.58 higher. Feeder Cattle futures were an average of $4.45 higher.

Negotiated cash fed cattle trade was limited on light to moderate demand in the western Corn Belt through Thursday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some early FOB live trades at $232-$233/cwt. Prices there last week were mostly $230 with dressed...

Cattle futures gained traction on Wednesday, as traders move past recent bearish news.

Toward the close, Live Cattle futures were an average of $1.71 higher. Feeder Cattle futures were an average of $3.18 higher.

Negotiated cash fed cattle trade was inactive on light demand in all cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $230-$231/cwt. in Kansas and mostly $230 in the North. Dressed delivered prices were $365.

Choice boxed beef cutout value was $2.43 lower Wednesday afternoon at $363.43. Select was $1.11 lower at $342.41.

...

Live Cattle futures were up and Feeder Cattle futures were mixed Tuesday, following the previous session’s steep decline, tied to USDA’s plans to open the U.S. border to Mexican feeder cattle imports.

Toward the close, Live Cattle futures were an average of $2.29 higher.

Feeder Cattle futures were an average of $3.55 lower, except for an average of $3.51 higher in the front three contracts.

Negotiated cash fed cattle trade was inactive on light demand in all cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB...

Cattle futures were down hard on Monday, in reaction to USDA’s plans to open the U.S. border to Mexican feeder cattle imports.

Toward the close, Live Cattle futures were an average of $6.26 lower.

Feeder Cattle futures were mostly limit-down, an average of $10.38 lower across the board.

Negotiated cash fed cattle trade was inactive on light demand in all cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $7 lower in Kansas at $230-231/cwt. FOB live prices were mostly $230 in the No...

Cattle futures extended gains Friday, clawing back some of the previous weeks’ steep losses with hopes the near bottom has been established. As this week begins, traders will be considering the monthly Cattle on Feed and semi-annul Cattle inventory reports published after markets closed on Friday, as well as the announced phased reopening of the U.S. border to Mexican feeder cattle imports (see below).

Live Cattle futures closed an average of $1.07 higher. Feeder Cattle futures closed an average of $1.97 higher. Week to week on Friday, Live Cattle futures closed an average of $2.12 higher, and Feeder Cattle fu...

Cattle futures were sharply lower Wednesday with pressure from lower cash fed cattle prices and wholesale beef values as traders eyed the monthly Cattle on Feed and semi-annul Cattle reports due to be published on Friday.

Toward the close, Live Cattle futures were an average of $3.47 lower. Feeder Cattle futures were an average of $8.68 lower.

Negotiated cash fed cattle trade was light to moderate on moderate demand in the North through Wednesday afternoon, according to the Agricultural Marketing Service.

Early dressed sales in Nebraska were $15 lower at $365/cwt. Although too few transactions to...

Cattle futures finally found some footing Monday after about two weeks of consecutive down days, helped along by firming wholesale beef values and oversold conditions.

Toward the close, Live Cattle futures were an average of $2.59 higher. Feeder Cattle futures were an average of $6.28 higher.

Negotiated cash fed cattle trade was mostly inactive on light demand through Monday afternoon, according to the Agricultural Marketing Service.

FOB live prices last week were mainly $10-$11 lower in Kansas at mostly $237-$238/cwt., $8 lower in Nebraska at $240 and mostly $8-$13 lower in the western Corn Belt at...

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...

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 $10-$11 lower at $237-$238/cwt.

Trade in the North ranged from limited on moderate demand in the western Corn Belt to inactive on light to moderate demand in Nebraska, with too few transactions to trend. So far this week, FOB live prices are mostly $8 lower at mainly $240 and dressed delivered prices in Nebraska are $10-$13 lower at mostly $380. Dressed delivered prices in the western Corn Belt last week were $393.

Choice...

Negotiated cash fed cattle trade was moderate on moderate demand in Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service. Early FBO live trades were mostly $8 lower at mainly $240/cwt. Dressed delivered sales so far this week are $10-$13 lower at mostly $380.

Trade was limited on moderate demand in the western Corn Belt. Although too few transactions to trend, there were some early FOB live trades at $238-$240 and some in the beef at $375. Last week, FOB live trades were $248 and dressed delivered prices were mostly $393.

Trade was mostly inactive on light demand in...

Cattle futures continued to unwind Tuesday with sharply lower Choice wholesale beef values so far this week and last week’s drop in negotiated cash fed cattle prices.

Toward the close, Live Cattle futures were an average of $2.47 lower. Feeder Cattle futures were an average of $5.59 lower.

Negotiated cash fed cattle trade ranged from inactive on light demand in Kansas to limited on light tomoderate demand in the North through Tuesday afternoon, according to the Agricultural Marketing Service.

Although too few transactions to trend, there were some early dressed delivered trades in Nebraska at...

Cattle futures softened further Friday with week’s lower negotiated cash fed cattle prices.

Toward the close, Live Cattle futures were an average of $1.04 lower. Feeder Cattle futures were an average of $1.63 lower.

From Monday through Friday last week, Live Cattle futures closed an average of $4.12 lower, and Feeder Cattle futures were an average of $8.02 lower.

Negotiated cash fed cattle trade ranged from mostly inactive on light demand in the South to light on moderate demand in the North through Friday afternoon, according to the Agricultural Marketing Service.

For the week, FO...

Negotiated cash fed cattle trade was moderate on moderate demand in Nebraska through Thursday afternoon, according to the Agricultural Marketing Service. FOB live prices were $7-$8 lower at $248/cwt. and dressed delivered prices were $10 lower at $393.

Trade was limited on moderate demand in Kansas and the western Corn Belt. Although too few transactions to trend, there were some FOB live trades in Kansas at $247-$248 and at $248 in the western Corn Belt where early dressed delivered prices were $393.

Last week, FOB live prices were $255/cwt. in Kansas and mostly $255 in the western Corn Belt where...

Cattle futures were mixed on Wednesday.

Toward the close, Live Cattle futures were an average of 65¢ lower, pressured in part by weakening post-holiday wholesale beef values.

Feeder Cattle futures were an average of $1.14 higher, except for an average of 72¢ lower in three contracts with support from the cash market.

Negotiated cash fed cattle trade was mostly inactive on light demand in Kansas and in the North through Wednesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $255/cwt. in Kansas, $255-$256 in Nebraska and mostly $255 in the we...

Cattle futures were lower Tuesday, led by Feeder Cattle.

Toward the close, Live Cattle futures were an average of 32¢ lower. Feeder Cattle futures were an average of $1.62 lower, except for 35¢ higher in spot Aug.

Negotiated cash fed cattle trade was mostly inactive on light demand in Kansas and in the North through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $255/cwt. in Kansas, $255-$256 in Nebraska and mostly $255 in the western Corn Belt. Dressed delivered prices were mostly $403. The previous week, FOB live prices in the Texas Pa...

Cattle futures were narrowly mixed on Monday.

Toward the close, Live Cattle futures were an average of 43¢ higher, despite last week’s lower cash fed cattle prices.

Feeder Cattle futures were an average of 37¢ lower, except for an average of 33¢ higher in two contracts, with recent cash pressure and higher grain futures prices.

Negotiated cash fed cattle trade was inactive on light demand in Kansas and in the North through Monday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $3 lower in Kansas at $255/cwt., $3-$4 lower in Ne...

Equity and futures markets were closed Friday in observance of Independence Day.

Negotiated cash fed cattle trade ranged from active on good demand in Kansas to light on moderate demand in the North through Thursday afternoon, according to the Agricultural Marketing Service.

For the week, FOB live prices were $3 lower in Kansas at $255/cwt., $3-$4 lower in Nebraska at $255-$256 and $4-$5 lower in the western Corn Belt at $255-$256. Dressed delivered prices were mainly $5 lower at $403. The previous week, FOB live prices in the Texas Panhandle were $258.

Choice boxed beef cutout value...

Cattle futures were narrowly mixed Wednesday with traders awaiting more negotiated cash fed direction.

Toward the close, Live Cattle futures were an average of 29¢ higher, except for an average of 39¢ lower in two contracts.

Feeder Cattle futures were narrowly mixed, from an average of 29¢ lower through the front half of the board to an average of 43¢ higher.

Negotiated cash fed cattle trade was light on moderate demand in Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service. Early dressed delivered trades were $5 lower at $403/cwt. Last week, FOB live prices in the regi...

Cattle futures continued lower Tuesday with month-end and quarter-end positioning.

Toward the close, Live Cattle futures were an average of 96¢ lower, except for 80¢ higher in spot Jun and 2¢ higher at the back. Feeder Cattle futures were an average of $3.29 lower.

Negotiated cash fed cattle trade was inactive on light demand through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $258/cwt. in the Southern Plains, mostly $260 in the western Corn Belt and $258-$260 in Nebraska. Dressed delivered prices were $408.

Choice boxed beef cutout value was $1.72 higher Tue...

Cattle futures closed lower again Monday with likely continued profit taking and positioning ahead of month-end and quarter-end.

Toward the close, Live Cattle futures were an average of $1.49 lower. Feeder Cattle futures were an average of $2.16 lower.

Negotiated cash fed cattle trade was inactive on light demand in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $258/cwt. in the Southern Plains, which was steady to $2 lower in the Texas Panhandle and $2 lower in Kansas. FOB live prices were steady in the...

Negotiated cash fed cattle trade remained largely undeveloped through Friday afternoon. The only established trade for the week, based on USDA reports, was mostly steady FOB live prices in the western Corn Belt at $260/cwt. Late-day private reports suggested unevenly steady prices across a broader area.

The previous week, FOB live prices were $258-$260/cwt. in the Southern Plains and mostly $260 in Nebraska. Dressed delivered prices the previous week were mostly $408 in Nebraska and $405 in the western Corn Belt on a light test.

Choice boxed beef cutout value was $5.29 lower Friday afternoon at $391.03/cwt. Select...

Cattle futures crawled higher Thursday.

Toward the close, Live Cattle futures were an average of 49¢ higher, except for 5¢ lower in near Dec. Feeder Cattle futures were an average of 66¢ higher.

Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $258-$260/cwt. in the Southern Plains and mostly $260 in the North. Dressed delivered prices were mostly $408 in Nebraska and $405 in the western Corn Belt on a light test.

Choice box...

Cattle futures were higher Wednesday. Toward the close, Live Cattle futures were an average of $1.09 higher. Feeder Cattle futures were an average of $3.18 higher.

Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $258-$260/cwt. in the Southern Plains and mostly $260 in the North. Dressed delivered prices were mostly $408 in Nebraska and $405 in the western Corn Belt on a light test.

Choice boxed beef cutout value was $1.37 lower Wednesday afternoon...

Cattle futures trended lower Tuesday with likely profit taking.

Toward the close, Live Cattle futures were an average of 97¢ lower. Feeder Cattle futures were an average of $1.06 lower.

Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $258-$260/cwt. in the Southern Plains and mostly $260 in the North. Dressed delivered prices were mostly $408 in Nebraska at $405 in the western Corn Belt on a light test.

Choice boxed beef c...

Cattle futures were higher Monday, responding to last week’s higher negotiated cash fed cattle prices, supportive outside markets and the friendly placement number in Thursday’s Cattle on Feed report.

Toward the close, Live Cattle futures were an average of $1.69 higher. Feeder Cattle futures were an average of $4.14 higher.

Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $3-$4 higher in the Texas Panhandle at $258-$260/cwt., $2-$4 higher in K...

Negotiated cash fed cattle trade ranged from limited on moderate demand in Nebraska to mostly inactive on light demand elsewhere through Friday afternoon, according to the Agricultural Marketing Service. Although established trade was undeveloped through Friday afternoon, there were private reports of FOB live bids at $258-$260 in various regions.

The previous week, FOB live prices were $255-$256/cwt. in the Texas Panhandle, mostly $256 in Kansas and $255-$258 in the North. Dressed delivered prices were $403-$405.

Choice boxed beef cutout value was 45¢ higher Friday afternoon at $394.37/cwt. Select was $2.67 lower at $372.08. Week to week on F...

Cattle futures softened Thursday with the lack of negotiated cash fed cattle direction, positioning ahead of the three-day weekend and monthly Cattle on Feed report (see below), as well as potential profit taking.

Toward the close, Live Cattle futures were an average of $1.14 lower. Feeder Cattle futures were an average of 75¢ lower.

Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $255-$256/cwt. in the Texas Panhandle, mostly $256 in Kansas a...

Cattle futures took a breather on Wednesday with likely profit taking and positioning ahead of Friday’s Cattle on Feed report.

Toward the close, Live Cattle futures were an average of 41¢ lower, except for 62¢ higher in spot Jun. Feeder Cattle futures were an average of 68¢ higher.

Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $255-$256/cwt. in the Texas Panhandle, mostly $256 in Kansas and $255-$258 in the North. Dressed deliv...

Cattle futures gained more steam on Tuesday, supported by the recent bounce in wholesale beef values and thoughts cash fed cattle prices could gain this week.

Toward the close, Live Cattle futures were an average of $4.52 higher. Feeder Cattle futures were an average of $6.56 higher.

Negotiated cash fed cattle trade was inactive on light demand in all major cattle feeding regions Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $255-$256/cwt. in the Texas Panhandle, $256 in Kansas and $255-$258 in the North. Dressed delivered prices were $403-$405.<...

Cattle futures bounced higher Monday, buoyed by positive outside markets and falling Crude Oil futures, in response to the announced resolution to the U.S.-Iran war. Keep in mind that Juneteenth on Friday shortens the trading week and that the monthly Cattle on Feed report will be published Thursday.

Toward the close, Live Cattle futures were an average of $2.17 higher. Feeder Cattle futures were an average of $4.93 higher.

Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.<...

Negotiated cash fed cattle trade was mostly inactive on light demand in Kansas through Friday afternoon, according to the Agricultural Marketing Service.

Elsewhere, trade was limited on moderate demand. Although too few transactions to trend in those regions, there were some FOB live trades at $256/cwt. in the Texas Panhandle, $255 in Nebraska and $254-$256 in the western Corn Belt. Likewise, too few to trend, there were some dressed delivered trades in Nebraska at $403-$410 and in the western Corn Belt at $400-$409.

The previous week, FOB live prices were $256-$258/cwt., in Kansas and $256 elsewhere...

Cattle futures ground higher Thursday with fundamental strength.

Toward the close, Live Cattle futures were an average of $1.61 higher. Feeder Cattle futures were an average of $4.44 higher.

Negotiated cash fed cattle trade was inactive on light demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $256-$258/cwt., in Kansas and $256 elsewhere. Dressed delivered prices were mainly $405.

Choice boxed beef cutout value was 8¢ lower Thursday afternoon at $393.21/cwt. Select was $2.46 lower at $373.25.

Corn and Soybean futures were l...

Cattle futures were mostly higher Wednesday with increased chances of steady to higher negotiated cash fed cattle prices this week.

Toward the close, Live Cattle futures were an average of $1.14 higher, except for 10¢ lower in the back contract. Feeder Cattle futures were an average of 73¢ higher, except for unchanged to 20¢ lower in the back three contracts.

Negotiated cash fed cattle trade was inactive on light demand in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $256-$258/cwt., in Kansas and $256 elsewhere. Dre...

Cattle futures strengthened Tuesday, perhaps with renewed focus on tightening supplies.

Toward the close, Live Cattle futures were an average of $2.11 higher. Feeder Cattle futures were an average of $2.68 higher.

Negotiated cash fed cattle trade was inactive on light demand in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $256-$258/cwt., in Kansas and $256 elsewhere. Dressed delivered prices were mainly $405.

Choice boxed beef cutout value was 70¢ higher Tuesday afternoon at $392.90/cwt. Select was $1.16 lower at $376.93.

Grain and S...

Cattle futures softened Monday with likely profit taking and positioning.

Toward the close, Live Cattle futures were an average of $4.16 lower. Feeder Cattle futures were an average of $3.54 lower.

Negotiated cash fed cattle trade was mostly inactive on light demand 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 Texas Panhandle at $256/cwt., $1 lower to $1 higher in Kansas at $256-$258, mainly $1 lower in Nebraska at $256 and steady to $2 lower in the western Corn Belt at $256. Dressed delivered prices...

Cattle futures extended gains Friday.

Live Cattle futures were an average of 79¢ higher. Feeder Cattle futures were an average of 53¢ higher, except for 25¢ lower in the back contract.

Week to week on Friday, Live Cattle futures closed an average of $2.01 higher, and Feeder Cattle futures closed an average of $6.22 higher.

Negotiated cash fed cattle trade was limited on moderate demand in Kansas and Nebraska through Friday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some FOB live trades at $258/cwt.

Elsewhere, trade was mostly ina...

Cattle futures roared higher Thursday, despite confirmation of New World screwworm in the United States. Apparently, the eventuality was priced into the market and removing the uncertainty added buyer confidence.

Feeder Cattle futures were an average of $10.68 higher, limit up in all but three contracts. Live Cattle futures were an average of $3.85 higher .

Negotiated cash fed cattle trade ranged from limited on moderate demand in Nebraska to mostly inactive on moderate demand elsewhere through Thursday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some FOB live trades at $255...

Cattle futures were lower Wednesday, pressured by reports that USDA was testing two calves from Texas for New World screwworm infection, as well as negative outside markets.

Toward the close, Live Cattle futures were an average of $2.05 lower. Feeder Cattle futures were an average of $5.61 lower.

Negotiated cash fed cattle trade was active on good demand in Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service. FOB live prices were mainly $1 lower at mostly $256 and dressed delivered prices were unevenly steady at mostly $405.

Trade was moderate on moderate demand in the Western...

Cattle futures were higher Monday, helped along by stronger outside markets.

Toward the close, Live Cattle futures were an average of $1.42 higher. Feeder Cattle futures were an average of $3.22 higher.

Negotiated cash fed cattle trade was inactive on light demand in all regions through Monday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were mostly $3 lower in the Southern Plains at mainly $257/cwt., $1-$8 lower in Nebraska at mostly $257 and $2-$4 lower in the western Corn Belt at $256-$258. Dressed delivered prices were $405, which was $3-$5 lower in Nebraska...

Cattle futures closed lower Friday, pressured by lower negotiated cash fed cattle prices, seasonally reluctant wholesale beef values, another New World screwworm case in Mexico creeping closer to the U.S. border, as well as week-end and month-end positioning.

Live Cattle futures closed an average of $2.17 lower. Feeder Cattle futures closed an average of $4.82 lower.

Week to week on Friday, Live Cattle futures closed an average of 67¢ lower. Feeder Cattle futures closed an average of $1.63 lower during the same period, extending the previous week’s steep decline.

Negotiated cash fed cattle prices lost gro...