Negotiated cash fed cattle trade remained undeveloped through Thursday afternoon, as Cattle futures continued to mostly grind higher.
Live Cattle futures closed an average of 17¢ higher, except for an average of 10¢ lower at either end of the board.
Except 7¢ lower for expiring Spot Sep, Feeder Cattle futures closed an average of 33¢ higher.
Wholesale beef values were firm on Select and lower on Choice with light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.12 lower Thursday afternoon at $213.51/cwt. Select was 56¢ higher at $190.39.
Corn futures closed mostly fractionally lower.
Soybean futures closed fractionally mixed to 1¢ higher.
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Major U.S. financial indices closed lower on Thursday, riding a similar seesaw from earlier in the week with the ebb and flow of trade talk with China.
The Dow Jones Industrial Average closed 79 points lower. The S&P 500 closed 7 points lower. The NASDAQ was down 46 points.
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Beef supplies in Cold Storage continue less year over year.
Total pounds of beef in freezers, as of Aug. 31, were 4% more than the previous month but 6% less than the same time last year, according to the most recent USDA Cold Storage report.
Frozen pork supplies were down 1% from the previous month, but were up 4% from last year.
Total red meat supplies in freezers were up 1% from the previous month but down 1% from last year.
Total frozen poultry supplies were 4% more than the previous month but 5% less than a year ago.