Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Thursday afternoon, according to the Agricultural Marketing Service. There were too few transactions to trend.
So far this week, live prices are $2-$3 higher in the Southern Plains at $131-$132/cwt., $2 higher at $132 in Nebraska and the western Corn Belt. Dressed prices are $3-$5 higher at $207.
Choice boxed beef cutout value was 38¢ lower Thursday afternoon at $285.14/cwt. Select was 67¢ higher at $267.29.
Live Cattle futures wavered in place Thursday, while a break in the Corn rally helped Feeder Cattle breathe higher.
Live Cattle futures closed narrowly mixed from unchanged to an average of 17¢ lower.
Feeder Cattle futures closed an average of 68¢ higher (42¢ to $1.02 higher).
Corn futures closed mostly 1¢ to 3¢ lower.
Soybean futures closed 2¢ to 8¢ higher through Sep ’22 and then mostly fractionally lower to 1¢ lower.
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