US: Feeder cattle supported by mostly lower move in corn

Published 2023년 2월 27일

Tridge summary

The Chicago Mercantile Exchange reported mixed trends in the livestock and meat markets. Live cattle futures saw a decline, with April and June contracts dropping slightly. Conversely, feeder cattle futures increased, driven by a decrease in corn prices. The boxed beef market experienced a slight rise in prices despite moderate demand. In contrast, lean hog futures saw a decline, while cash hogs and butcher hog prices increased, leading to a higher pork value index. Overall, the market remains stable with good demand and quality in livestock, supported by strong export sales and ample supply of market-ready hogs.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

At the Chicago Mercantile Exchange, live cattle were mostly lower ahead of the week’s direct business and feeders were higher on the mostly lower move in corn. April live cattle closed $.40 lower at $164.97 and June live cattle closed $.20 lower at $160.87. March feeders closed $.10 higher at $189.17 and April feeders closed $.65 higher at $194.22. It was a typically quiet Monday for direct cash cattle business. Showlists this week are higher across all major feeding areas. Bids and asking prices didn’t surface on Monday, but packers are short-bought in some areas and it could spark business to develop earlier than usual this week. At mid-session at the Oklahoma National Stockyards, feeder steers were steady to $2 higher and feeder heifers were $2 to $5 higher. Steer calves are mostly steady, heifer calves are $3 to $5 higher with heifer calves 400 to 500 pounds up to $15 higher. The USDA says demand is good and quality is above average. Receipts were about steady on the ...

Source: Brownfield Ag