CATTLEUSA DRIVE - Saturday, January 11th

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Cattle: It was a stellar week in the cattle market seeing fat cattle on either side of $2 per pound. Program fats were another $5-$10 per hundred weight higher or more topping at $2.11 per pound. At the feeder cattle auctions this week, record prices were on all classes. Of considerable note is the stocker cattle $10-$25 higher on the better and weaned steers. Easily approaching $2,000 per head in some cases for stockers. Do I know when it will stop going up? No! But please, please, please protect the ranch! All time highs create a great opportunity for locking in a profitable year using LRP (Livestock Risk Protection) or puts to leave the upside open. Join us Tuesday January 14th at 2pm CT online as we go over how to use LRP and what it is. Check the “CattleUSA Insurance” Facebook page for details. The bred cow market has caught steam in the last 30 day, but I still contend it is the best value going. I’m ready for Spring and wish you another great week in Agriculture!

- Brian Winter

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Click Here to register for LRP info webinar

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Corn: Corn prices saw gains, with March futures adding 14 cents to $4.70 per bushel. Analysts expect the USDA to show combined old and new crop corn sales ranging between 27.6 million and 59.1 million bushels for the week ending January 2

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Soybeans: Soybean prices were mixed, with some pressure from a stronger U.S. dollar and easing concerns over dryness in Argentina. Analysts expect the USDA to slightly reduce numbers for the 2024 U.S. soybean crop

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Wheat: Wheat prices were back in the red, with the Buenos Aires Grain Exchange reporting that 64% of Argentine wheat has been harvested

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Energy Futures: Crude oil prices rose by more than 1%, moving back above $76 per barrel. Diesel and gasoline prices also saw increases

“Make the best use of what is in your power, and take the rest as it happens.” – Epictetus