Negotiated cash fed cattle trade was slow on light demand in the North through Thursday afternoon, according to the Agricultural Marketing Service. For the week, FOB live prices are $2-$3 lower at $187/cwt. Dressed delivered prices are $3-$5 lower in Nebraska at $296-$297 and $2-$3 lower in the western Corn Belt at $297.
Trade was at a standstill in the Southern Plains. FOB live prices last week were $186 in the Texas Panhandle and $185-$186 in Kansas.
Choice boxed beef cutout value was $4.15 lower at $297.15/cwt. Select was 87¢ lower at $296.05/cwt.
Cattle futures edged higher Thursday, but were down sharply lower at mid-session on Friday as concerns about Highly Pathogenic Avian Influenza continue to weigh.
Live Cattle closed an average of 89¢ higher (25¢ to $1.25 higher).
Feeder Cattle futures closed an average of $1.46 higher (75¢ to $2.02 higher).
Grain futures closed higher with apparent short covering.
Corn futures closed 1¢ to 3¢ higher through Jly ’25 .and then fractionally higher.
KC HRW Wheat futures closed fractionally higher to 1¢ higher, except for 3¢ lower in spot May.
Soybean futures closed fractionally lower to 3¢ lower through Jan ’25 and then fractionally higher to 1¢ higher.
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Major U.S. financial indices sank Thursday, ahead of Friday’s national employment summary, and amid surging oil prices.
The Dow Jones Industrial Average closed 530 points lower. The S&P 500 closed 64 points lower. The NASDAQ was down 228 points.
West Texas Intermediate Crude Oil futures (CME) closed $1.05 to $1.19 higher through the front six contracts.
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Net U.S. beef export sales for the week ending Mar. 28 of 18,700 metric tons for 2024 were 48% more than the previous week and 53% more than the prior four-week average. Increases were primarily for South Korea, Japan, Canada, Taiwan and Mexico.