Cattle markets remain volatile, but cash prices are holding firm, according to market analyst Joe Kooima of Kooima, Kooima & Varilek in Sioux Center, Iowa. Speaking on this week\u2019s Cattle Call, Kooima noted that despite sharp interday swings, cash cattle prices are steady to slightly higher.<\/p>\n
Last week\u2019s trade was briefly rattled by a false report of screw worm in the U.S., but the market rebounded, with some deferred contracts hitting new highs early this week. <\/p>\n
\u201cCash is just fine,\u201d Koima said, adding that the market has hovered near $245 in the north and south for several weeks.<\/p>\n<\/p>\n
One notable shift: 31% of last week\u2019s cash trade was for deferred delivery, higher than usual, as packers offer bids several weeks out. <\/p>\n
\u201cWith the futures discount where cash is at, you can\u2019t make a better marketing decision than that,\u201d Kooima said.<\/p>\n
The latest USDA World Agricultural Supply and Demand Estimates (WASDE) report projected record corn yields, meaning feed grain supplies will be ample. Kooima said that\u2019s helping support feeder cattle values. <\/p>\n
\u201cEverybody wants something to market that corn through besides just selling it to the elevator,\u201d he explained.<\/p>\n
As for this week\u2019s cash trade outlook, early sales included $245 in the north and $237 in the south, mostly steady with last week. \u201cThe cash market is leading the charge right now,\u201d Kooima said.<\/p>\n
Cattle Call is a production of the Nebraska Rural Radio Association, sponsored by Wolf Auto \u2013 Small Town Strong.<\/p>\n","protected":false},"excerpt":{"rendered":"Cattle markets remain volatile, but cash prices are holding firm, according to market analyst Joe Kooima of Kooima,…\n","protected":false},"author":2,"featured_media":80229,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[28,112],"class_list":["post-80228","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/80228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=80228"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/80228\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/80229"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=80228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=80228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=80228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}