Cattle Current Market Update with Wes Ishmael

Wes Ishmael: cattle business analyst and journalist

Whether you trade cattle once a year or every day, Cattle Current with Wes Ishmael helps you stay in the market with a daily morning snapshot of the previous day's market action and news shaping the market ahead. Cattle market highlights and commentary include: market news; cash calf and feeder cattle price trends at auction; relevant futures prices and trends; cash fed cattle prices; overview of the cash grain market; trends in major Equity indexes. Stay in the market.

  • 5 minutes 1 second
    Cattle Current Podcast—Nov. 15, 2024

    Negotiated cash fed cattle trade was slow on light to moderate demand in the North through Thursday afternoon, according to the Agricultural Marketing Service. Based on the latest established trends, FOB live prices are $1-$2 lower in Nebraska at $185/cwt. and $3 lower in the western Corn Belt at $182-$185. Dressed delivered prices are $4 lower at $290.

    Trade was limited on light demand in the Southern Plains. Although too few to trend, there were some early FOB live trades at $185. Prices last week were $187.

    Choice boxed beef cutout value was $3.14 lower Thursday afternoon at $303.80/cwt. Select was $2.00 lower at $276.66.

    Cattle futures were mostly lower Thursday, pressured by lower cash fed cattle prices and sluggish wholesale beef values.

    Toward the close, Live Cattle futures were an average of 95¢ lower.

    Feeder Cattle futures were an average of 56¢ lower, except for $1.22 higher in spot Nov and unchanged at the back.

    Grain and Soybean futures were lower Thursday, with pressure from the stronger U.S. Dollar and positive growing conditions.

    Toward the close and through Sep ’25 contracts, Corn futures were 4¢ to 7¢ lower. Kansas City Wheat futures were 6¢ to 8¢ lower. Soybean futures were 14¢ to 19¢ lower.

    15 November 2024, 12:03 am
  • 3 minutes 50 seconds
    Cattle Current Podcast—Nov. 14, 2024

    Cattle futures mainly edged higher Wednesday, awaiting established weekly cash fed cattle trade.

    Toward the close, Live Cattle futures were narrowly mixed, from an average of 15¢ lower in the front three contracts to an average of 15¢ higher. Feeder Cattle futures were an average of 59¢ higher, except for 35¢ lower in spot Nov.

    Negotiated cash fed cattle trade ranged from light on light demand to a standstill through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early dressed delivered sales in Nebraska at $290/cwt.

    Last week, FOB live prices were $3 lower in the Southern Plains at $187/cwt., $3-$4 lower in Nebraska at $186-$187 and $2-$5 lower in the western Corn Belt at $185-$188. Dressed delivered prices were $2-$4 lower in Nebraska at $294 and $4 lower in the western Corn Belt at $294.

    Choice boxed beef cutout value was $1.33 lower Wednesday afternoon at $306.94/cwt. Select was $1.26 lower at $278.66.

    Grain and Soybean futures were lower Wednesday, with continued pressure from the stronger U.S. Dollar.

    Toward the close and through Sep ’25 contracts, Corn futures were 2¢ to 3¢ lower. Kansas City Wheat futures were 5¢ to 6¢ lower. Soybean futures were mostly 2¢ to 4¢ lower.

    14 November 2024, 12:55 am
  • 4 minutes 37 seconds
    Cattle Current Podcast—Nov. 13. 2024

    Cattle futures extended gains Tuesday, supported by another day of firmer Choice boxed beef cutout values and likely short covering.

    Toward the close, Live Cattle futures were an average of 96¢ higher. Feeder Cattle futures were an average of $1.56 higher.

    Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.

    Last week, FOB live prices were $3 lower in the Southern Plains at $187/cwt. and $3-$4 lower in Nebraska at $186-$187 and $2-$5 lower in the western Corn Belt at $185-$188. Dressed delivered prices were $2-$4 lower in Nebraska at $294 and $4 lower in the western Corn Belt at $294.

    Choice boxed beef cutout value was 6¢ higher Tuesday afternoon at $308.27/cwt. Select was $1.92 higher at $279.92.

    Grain and Soybean futures were lower Tuesday, with likely pressure from the stronger U.S. Dollar, profit taking and producer selling.

    Toward the close and through Sep ’25 contracts, Corn futures were 1¢ to 2¢ lower. Kansas City Wheat futures were 11¢ to 13¢ lower. Soybean futures were mostly 8¢ to 13¢ lower.

    13 November 2024, 12:36 am
  • 4 minutes 43 seconds
    Cattle Current Podcast—Nov. 12. 2024

    Cattle futures found some footing Monday, helped along by the firmer boxed beef cutout values.

    Toward the close, Live Cattle futures were an average of 21¢ higher, except for unchanged in spot Dec and $1.00 higher at the back of the board. Feeder Cattle futures were an average of 87¢ 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 $3 lower in the Southern Plains at $187/cwt. and $3-$4 lower in Nebraska at $186-$187 and $2-$5 lower in the western Corn Belt at $185-$188. Dressed delivered prices were $2-$4 lower in Nebraska at $294 and $4 lower in the western Corn Belt at $294.

    The weighted average five-area direct FOB live fed steer price last week was $3.29 lower at $186.53. The weighted average dressed delivered fed steer price was $3.84 lower at $293.13.

    Choice boxed beef cutout value was 28¢ higher Monday afternoon at $308.21/cwt. Select was $2.65 higher at $281.84.

    Grain and Soybean futures were lower Monday, presumably pressured by a higher U.S. dollar, farmer selling and sharply lower crude oil prices.

    Toward the close and through Sep ’25 contracts, Corn futures were 1¢ to 3¢ lower. Kansas City Wheat futures were 3¢ to 5¢ lower. Soybean futures were 5¢ to 9¢ lower.

    12 November 2024, 12:06 am
  • 10 minutes 42 seconds
    Cattle Current Podcast—Nov. 11, 2024

    Cattle futures closed sharply lower Friday, pressured by lower cash prices, lower wholesale beef values and the Goldman role.

    Live Cattle futures were an average of $1.38 lower. Week to week on Friday, they ranged from an average of $1.31 lower in the front four contracts to an average of 93¢ higher.

    Feeder Cattle futures were an average of $2.33 lower Friday. Week to week, they were an average of $1.28 lower, except for an average of 20¢ higher in the back two contracts.

    Negotiated cash fed cattle trade ranged from moderate on moderate demand in Nebraska to light on light demand in other major cattle feeding regions through Friday afternoon, according to the Agricultural Marketing Service.

    FOB live prices were $3 lower in the Southern Plains at $187/cwt. and $2-$4 lower in Nebraska at $186-$188. Although too few to trend, there were some early trades in the western Corn Belt at $185-$186, where prices the previous week were $190.

    Dressed delivered prices the previous week were $296-$298 in Nebraska and $298 in the western Corn Belt.

    Choice boxed beef cutout value was $1.53 lower Friday afternoon at $307.93/cwt. Select was 53¢ lower at $279.19.

    Week to week on Friday, Choice boxed beef cutout value was $8.41 lower at $307.93/cwt. Select was $5.84 lower at $279.19. Over the past two weeks, Choice was down $14.31 and Select was $15.89 lower.

    Estimated total cattle slaughter last week of 619,000 head was 4,000 head more than the previous week but 4,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 27 million head was 1 million head fewer (-3.7%) than the same period last year. Estimated year-to-date beef production of 22.9 billion pounds was 117.5 million pounds less (-0.5%).

    Turning to the grain complex, futures were mixed.

    Corn futures closed mostly 2¢ to 3¢ higher. Kansas City Wheat futures were mostly 3¢ to 4¢ lower. Soybean futures were mostly 4¢ to 6¢ higher through Jan ’26 and then mainly fractionally lower.

    10 November 2024, 12:30 am
  • 6 minutes 25 seconds
    Cattle Current Podcast—Nov. 8, 2024

    Cattle futures extended gains Thursday with follow-through support from outside markets.

    Toward the close, Live Cattle futures were an average of 83¢ higher. Feeder Cattle futures were an average of 82¢ higher, except for unchanged in spot Nov.

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

    Last week, FOB live prices were $190/cwt. in all regions with dressed delivered prices at $296-$298 in Nebraska and $298 in the western Corn Belt.

    Choice boxed beef cutout value was $6.13 lower Thursday afternoon at $309.46/cwt. Select was $3.48 lower at $279.72.

    Grain and Soybean futures were mixed again Thursday.

    Toward the close and through Sep ’25 contracts, Soybean futures were 17¢ to 23¢ higher, boosted by weekly soybean oil exports. Corn futures were 2¢ to 3¢ higher. Kansas City Wheat futures were 3¢ to 5¢ lower.

    8 November 2024, 1:54 am
  • 6 minutes 12 seconds
    Cattle Current Podcast—Nov. 7, 2024

    Cattle futures were higher Wednesday, buoyed by aggressively stronger equity markets.

    Toward the close, Live Cattle futures were an average of $1.04 higher. Feeder Cattle futures were an average of $1.64 higher.

    Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.

    Last week, FOB live prices were $190/cwt. in all regions with dressed delivered prices at $296-$298 in Nebraska and $298 in the western Corn Belt.

    Choice boxed beef cutout value was $1.62 lower Wednesday afternoon at $315.59/cwt. Select was $2.04 lower at $283.20.

    Grain and Soybean futures were mixed Wednesday.

    Toward the close and through Sep ’25 contracts, Corn futures were 4¢ to 8¢ higher. Kansas City Wheat futures were 1¢ to 3¢ lower. Soybean futures were mixed, from 2¢ lower to 3¢ higher.

    6 November 2024, 11:05 pm
  • 5 minutes 57 seconds
    Cattle Current Podcast—Nov. 6, 2024

    Cattle futures eased higher Tuesday, helped along by more bullish outside markets.

    Toward the close, Live Cattle futures were an average of 28¢ higher, except for 25¢ lower in spot Dec. Feeder Cattle futures were an average of 40¢ higher, except for 12¢ lower in spot Nov and no trade in the back contract.

    Negotiated cash fed cattle trade ranged from mostly inactive on light demand in the western Corn Belt to a standstill in other major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.

    Last week, FOB live prices were $190/cwt. in all regions with dressed delivered prices at $296-$298 in Nebraska and $298 in the western Corn Belt.

    Choice boxed beef cutout value was 30¢ higher Tuesday afternoon at $317.21/cwt. Select was $1.92 lower at $285.24.

    Grain and Soybean futures were stronger Tuesday with follow-through support from positive export sales.

    Toward the close and through Sep ’25 contracts, Corn futures were fractionally higher to 2¢ higher. Kansas City Wheat futures were 5¢ to 6¢ higher. Soybean futures 2¢ to 7¢ higher.

    6 November 2024, 12:26 am
  • 7 minutes 39 seconds
    Cattle Current Podcast—Nov. 5, 2024

    Cattle futures were lower Monday with likely technical pressure and uncertainty ahead of the election.

    Toward the close, Live Cattle futures were an average of 75¢ lower. Feeder Cattle futures were an average of 94¢ lower.

    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 $190/cwt. with dressed delivered prices at $296-$298 in Nebraska and $298 in the western Corn Belt.

    The five-area direct weighted average FOB live steer price last week was 23¢ lower at $189.82. The weighted average dressed delivered steer price was $1.93 lower at $296.97.

    Choice boxed beef cutout value was 34¢ higher Monday afternoon at $316.91/cwt. Select was $2.13 higher at $287.16.

    Grain and Soybean futures were stronger Monday bolstered by positive export sales.

    Toward the close and through Sep ’25 contracts, Corn futures were fractionally mixed to 1¢ higher. Kansas City Wheat futures were fractionally higher to 4¢ higher. Soybean futures were 2¢ to 4¢ higher.

    5 November 2024, 12:56 am
  • 8 minutes 57 seconds
    Cattle Current Podcast—Nov. 4, 2024

    Live Cattle futures closed an average of 15¢ higher, except for an average of 54¢ lower on either end of the board. Feeder Cattle futures were an average of $1.64 higher, supported by strong cash trade.

    Week to week on Friday, Live Cattle futures closed an average of $2.11 lower and Feeder Cattle futures were an average of $2.77 lower.

    Negotiated cash fed cattle trade was inactive on very light demand in all major cattle feeding regions through Friday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.

    For the week, FOB live prices are steady to $1 lower in the Texas Panhandle at $190/cwt. and steady in other regions at $190. Dressed delivered prices were steady to $2 lower at $296-$298 in Nebraska and $298 in the western Corn Belt.

    Choice boxed beef cutout value was $1.26 lower Friday afternoon at $316.34/cwt. Select was 34¢ lower at $285.03. Week to week on Friday, Choice was $5.90 lower and Select was $10.05 lower.

    Estimated total cattle slaughter last week of 615,000 head was 8,000 head fewer than the previous week and 21,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 26.4 million head was 1.0 million less (-3.8%) than the same period last year. Estimated year-to-date beef production of 22.3 billion pounds was 140.2 million pounds less (-0.6%).

    Grain and Soybean futures were mixed Friday with support from recent export sales but continued harvest pressure and uncertainty surrounding the impending election.

    Corn futures were 2¢ to 3¢ higher through Jly ’25 and then unchanged to fractionally mixed. Kansas City Wheat futures were 1¢ to 2¢ lower. Soybean futures were fractionally lower to 1¢ lower.

    2 November 2024, 11:31 pm
  • 5 minutes 55 seconds
    Cattle Currrent Podcast—Nov. 1, 2024

    Live Cattle futures were mixed Thursday and Feeder Cattle futures were lower with pressure from recently lower wholesale beef prices and month-end position squaring.

    Toward the close, Live Cattle futures ranged from an average of 12¢ lower in three contracts to an average of 50¢ higher, except for $4.60 higher in expiring Oct. Feeder Cattle futures were an average of 62¢ lower, except for 17¢ higher in new spot Nov and $1.02 higher in expiring Oct.

    Negotiated cash fed cattle trade ranged from slow on light demand in Nebraska to a standstill in the Texas Panhandle through Thursday afternoon, according to the Agricultural Marketing Service.

    So far this week, FOB live prices are steady to $1 lower in the Texas Panhandle at $190/cwt. and steady in other regions at $190. Dressed delivered prices are steady to $2 lower at $296-$298 in Nebraska and $298 in the western Corn Belt.

    Choice boxed beef cutout value was $1.84 lower Thursday afternoon at $317.60/cwt. Select was $3.95 lower at $285.37.

    Corn and Soybean futures received support from export sales Thursday. For the week ending Oct. 24, net U.S. corn export sales were 7% higher than the previous four-week average and net U.S. soybean sales were 39% more than the prior four-week average.

    Toward the close and through Sep ’25 contracts, Corn futures were mostly 1¢ higher. Soybean futures were 5¢ to 7¢ higher. Kansas City Wheat futures were 5¢ lower, pressured by the wetter outlook for winter wheat areas of the country.

    31 October 2024, 11:59 pm
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