Negotiated cash fed cattle trade was slow on light demand through Thursday afternoon, according to the Agricultural Marketing Service. Live sales were steady in the Southern Plains at $150/cwt. and steady with the prior week in the western Corn Belt at $152-$153. Dressed prices in the western Corn Belt last week were $240.
Although too few to trend, there were some dressed trades $2-$3 higher in Nebraska at $242-$243. Live prices there last week were $152-$153.
Choice Boxed beef cutout value was $1.71 higher Thursday afternoon at $265.18/cwt. Select was 10¢ lower at $233.06/cwt.
Cattle futures wobbled Thursday as traders appeared to take a wait-and-see breather after the previous session’s gains.
Feeder Cattle futures closed an average of 59¢ lower, except for 12¢ higher in the back contract.
Live Cattle futures closed narrowly mixed from an average of 12¢ lower to an average of 22¢ higher.
Corn futures closed 7¢ to 8¢ lower through Jly ‘23 and then narrowly mixed.
Soybean futures closed mostly 12¢ to 17¢ lower.
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