USA: Direct cash cattle trade picks up steam

Other Frozen Pork Cuts
Frozen Bone-In Beef
United States
Market & Price Trends
Published Feb 2, 2024

Tridge summary

Chicago Mercantile Exchange live and feeder cattle futures saw a significant increase, driven by higher direct business and positive Cattle Inventory numbers from the USDA. Cash cattle trade also reported an increase in Texas and Kansas. The Hub City Livestock Auction saw steady to sharply higher prices for feeder steers and heifers. Boxed beef cutout values were mixed at closing, while estimated cattle slaughter was 126,000 head. Lean hogs were mostly lower, with cash hogs showing a modest increase. Pork values closed at $88.59, up by $1.03. The estimated hog slaughter was 482,000 head.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Chicago Mercantile Exchange live and feeder cattle futures were sharply higher, supported by the sharply higher direct business during the session, along with the USDA’s neutral to bullish Cattle Inventory numbers. Feeders had additional support from the modestly lower move in corn. February live was up $2.40 at $179.75 and April was $2.47 higher at $183.17. March feeders were $4.72 higher at $244.87 and April was up $4.37 at $250.52. Cash cattle country had some light live trade reported in parts of Texas at $178, $3 higher than last week’s weighted average. In Kansas, trade was marked at $178 to $179, $4 to $5 higher than the previous week. Some deals were also reported in the North with dressed cattle selling for $280 in South Dakota and Iowa, up $3 on the week. Asking prices remain firm at $180 live and $280 dressed. At the Hub City Livestock Auction in South Dakota, feeder steers and heifers were steady to mostly sharply higher compared to the most recent sale. USDA says ...
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