Future Cattle Prices Dipping Lower

Future Cattle Prices Dipping Lower

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for Jan. 30th. Beef producers keeping a keen eye on future cattle prices as they dipped lower over the week. Let's check in with Greg Sanders with the USDA, as he covers the weekly cattle update.

Sanders "National Slaughter cattle review for Thursday, in all major feeding regions trading and demand were moderate. Compared to last week in the Texas Panhandle, Live sales sold steady to a buck lower at $1.22. In Kansas, Live sales sold steady at $1.22 also. Compared to the prior week in Nebraska, Live sales sold steady to $2 lower from $1.20 to $1.22 and dress sales sold a $1 lower at $1.94."

Let's start with the Chicago markets, July wheat prices closed the day dn 5 ¾, at 449 ½. Chicago July Corn prices were dn 1 ½, to finish the day at 376 ¾. Prices in Portland for Soft White Winter Wheat of ordinary protein for May were dn 6 to unch, ranging from 4-44 ½ to 4-66. Hard Red Winter Wheat with 11.5 % protein, future prices for May were dn 6, ranging from 5-21 ½ to 5-31 ½. DNS Wheat with 14 % protein, prices for May were dn 2 ½, ranging from 6-86 to 6-96. June Live Cattle finished the day dn 22 ½ cents, at 106.62 ½. May Feeder cattle were dn 2 ½ cents, at 124.85. March class III milk was up 10 cents at 17-14.

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