Cattle Current Podcast—Jan. 22, 2025

Feeder Cattle futures were pressured by stronger Corn futures, worries about cold-damaged winter wheat pasture in the Southern Plains and perhaps growing hesitancy related to the ultimate opening of the Mexican border to feeder cattle. Toward the close, they were down an average of $1.63 lower, except for 85¢ higher in spot Jan.

Live Cattle futures were narrowly mixed Tuesday, awaiting the week’s cash trade. They were an average of 35¢ higher, except for unchanged to an average of 6¢ lower in three contracts.

Negotiated cash fed cattle trade was light on light demand in Kansas through Tuesday afternoon, according to the Agricultural Marketing Service. FOB live prices were steady at $201/cwt.

Elsewhere, trade was mostly inactive on very light demand

Last week, FOB live prices were $201 in the Texas Panhandle, $203-$205 in Nebraska and $203-$206 in the western Corn Belt. Dressed delivered prices $322 in Nebraska and $320-$322 in the western Corn Belt.

Choice boxed beef cutout value was $1.11 lower Tuesday afternoon at $332.05/cwt. Select was 11¢ higher at $319.55.

Corn and Soybean futures were higher Tuesday, helped along by the drier South American weather outlook and more optimism regarding tariffs.

Toward the close and through Sep ’25 contracts, Corn futures were 3¢ to 6¢ higher.  Soybean futures were 24¢ to 33¢ higher.

Wheat futures gained on prospects of freeze damage in the Southern Plains. Toward the close and through Sep ’25 contracts, Kansas City Wheat futures were 25¢ to 26¢ higher.