Cattle futures managed to close marginally lower to narrowly mixed Thursday.
Feeder Cattle futures closed narrowly mixed, from an average of 34¢ lower in four contracts to an average of 56¢ higher.
Live Cattle futures closed an average of 38¢ lower, except for an average of 6¢ higher in two contracts.
Negotiated cash fed cattle trade was at a standstill in the Southern Plains and mostly inactive on light demand in the North through Thursday afternoon, according to the Agricultural Marketing Service.
For the week, prices are steady to unevenly steady in the Southern Plains and Nebraska with live prices at $124/cwt. in the Texas Panhandle, $123-$124 in Kansas and $125 in Nebraska. Live prices in the western Corn Belt are $1-$3 lower at $123-$124. Dressed traded is unevenly steady at $200.
Choice boxed beef cutout value was $1.82 lower Thursday afternoon at $318.00/cwt. Select was $3.62 lower at $280.27.
Net U.S. beef export sales for the week ending Sept. 9 were 15,300 metric tons, according to USDA’s weekly U.S. Export Sales report. That was 23% more than the previous week and 24% more than the prior four-week average. Increases were primarily for Japan, South Korea, China, Mexico, and Canada.
Corn futures closed mostly 3¢ to 4¢ lower.
Soybean futures closed fractionally higher to 1¢ higher through May ‘22 and then mostly 1¢ to 4¢ lower.