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Home > Cattle Current Market Update with Wes Ishmael > Cattle Current Podcast—Feb. 3, 2025
Podcast: Cattle Current Market Update with Wes Ishmael
Episode:

Cattle Current Podcast—Feb. 3, 2025
Category: Business
Duration: 00:11:03
Publish Date: 2025-02-02 20:02:47
Description:

Cattle futures bounced back Friday, buoyed by the week’s stronger cash fed cattle prices and ahead of what turned out to be a generally neutral USDA Cattle report compared to expectations (see below).

Live Cattle futures were an average of 74¢ higher (12¢ higher at the front to $1.07 higher at the back). Week to week they were an average of 40¢ lower, except for an average of 3¢ higher in the back three contracts.

Feeder Cattle futures were an average of $2.40 higher. They were an average of 70¢ lower week to week.

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

For the week, FOB live prices were $6-$7 higher in the Southern Plains at $208/cwt. and steady to $2 lower in Nebraska at $210, where dressed delivered prices were steady to $2 higher at $330.

The previous week, FOB live prices were $210-$212 in the western Corn belt, where dressed delivered prices were $330.

Choice boxed beef cutout value was 20¢ higher Friday afternoon at $327.68/cwt. Select was $1.17 higher at $317.07. Week to week on Friday, Choice boxed beef cutout value was 24¢ lower but Select was 78¢ higher.

Estimated total cattle slaughter last week of 600,000 head was 1,000 head more than the previous week but 32,000 head fewer than the same week last year. Year-to-date estimated total cattle slaughter of 2.7 million head was 266,000 head fewer (-9%) than the same period last year. Year-to-date estimated beef production of 2.3 billion pounds was 116.4 million pounds less (-4.7%).

Turning to the grain complex, grain and Soybean futures closed lower Friday with week-end and month-end squaring and likely positioning ahead of the looming tariffs announced Saturday (see below).

Corn futures were 6¢ to 8¢ lower through old-crop contracts and then mostly 1¢ to 3¢ lower.

Kansas City Wheat futures were 8¢ to 9¢ lower through May ’26 and then 6¢ to 7¢ lower.  

Soybean futures were 2¢ to 4¢ lower.
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