Cattle Current Podcast—Feb., 21, 2024

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 [...]

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.