Negotiated cash fed cattle trade on Thursday in Nebraska and the western Corn Belt continued mostly steady with prices established earlier in the week: $128.00-$128.50 and $128-$131, respectively on a live basis. In the beef, prices were $205 in Nebraska and $205-$207 in the western Corn Belt.
Despite steady to higher cash fed cattle trade and strong wholesale beef values, Cattle futures closed solidly lower on Thursday, amid apparent technical selling and continued concern about growing supplies relative to demand.
Live Cattle futures closed an average of $1.09 lower (95¢ to $1.22 lower).
Feeder Cattle futures closed an average of $1.97 lower ($1.42 to $2.17 lower).
Choice boxed beef cutout value was 88¢ higher Thursday afternoon at $224.99/cwt. Select was 70¢ lower at $216.31.
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