Cattle futures closed lower Thursday but off session lows with no obvious driver.
Toward the close, Live Cattle futures were an average of $3.25 lower. Feeder Cattle futures were an average of $5.87 lower.
Negotiated cash fed cattle trade was active on very good demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
FOB live prices were mainly $1 higher in the Southern Plains at $256/cwt., $3-$6 higher in Nebraska at mostly $258-$260 and steady to $5 higher in the western Corn Belt at $255-$260. Dressed delivered prices were mostly $2 higher in Nebraska at mainly $402 and steady to $3 higher in the western Corn Belt at $400-$403.
Choice boxed beef cutout value was $2.68 lower Thursday afternoon at $386.94/cwt. Select was $5.21 lower at $384.42.
Grain and Soybean futures trended lower on Thursday, led by reduced weather premium in hard red winter wheat.
Toward the close, and through near Dec contracts, Kansas City HRW Wheat futures were mostly 19¢ to 22¢ lower. Corn futures were unchanged to 1¢ lower. Soybean futures were mostly 1¢ to 4¢ lower through near Nov.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More