Cattle futures closed mostly higher Thursday despite the strike by workers at the Cargill beef packing plant in Fort Morgan, Colo., and with news that the Secretary of Agriculture cancelled her visit to the U.S.-Mexican border, which some had feared would feature an announced timeline for resuming Mexican feeder cattle imports.
Live Cattle futures closed an average of 76¢ higher. Feeder Cattle futures closed an average of 68¢ higher, except for 17¢ lower in spot Apr.
Negotiated cash fed cattle trade was moderate on good demand in Kansas and Nebraska through Thursday afternoon, according to the Agricultural Marketing Service. Trade was inactive on light demand in the Texas Panhandle and light to moderate on moderate to good demand in the western Corn Belt.
So far this week, FOB live prices are $2 lower at $246/cwt. and dressed delivered prices are $2 lower at $386.
Choice boxed beef cutout value was 69¢ lower Thursday afternoon at $383.50/cwt. Select was 75¢ lower at $382.58.
Grain futures were higher, led by Thursday with winter wheat weather premium.
Kansas City HRW Wheat futures closed 20¢ to 29¢ higher through May ‘27. Corn futures closed 1¢ to 2¢ higher. Soybean futures closed mostly 2¢ to 4¢ lower.
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