Negotiated cash fed cattle trade was moderate on moderate demand in Kansas through Thursday afternoon, according to the Agricultural Marketing Service. FOB live prices were $1 lower at $185/cwt.
Elsewhere, trade ranged from slow on light demand to a standstill.
Last week, FOB live prices were $186 in the Texas Panhandle, $190 in Nebraska and $188-$192 in the western Corn Belt. Dressed delivered prices were $301 in Nebraska and $300-$301 in the western Corn Belt.
Choice boxed beef cutout value was $1.42 higher Thursday afternoon at $316.21/cwt. Select was 7¢ lower at $300.83/cwt.
Cattle futures were lower again Thursday heading into the close, pressured by the weaker outlook for cash prices this week and surge in Corn futures. Live Cattle futures were 90¢ lower. Feeder Cattle were an average of $2.00 lower, except for 17¢ higher in spot Jun.
Corn and Soybean futures bounced higher Thursday on likely short covering.
Heading into the close, through Jly ‘25, Corn futures were 9¢ to 14¢ higher. Soybean futures were mostly 13¢ to 22¢ higher. Kansas City Wheat futures were mostly fractionally higher.
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Major U.S. financial indices closed mixed and little changed Thursday.
The Dow Jones Industrial Average closed 78 points higher. The S&P 500 closed 1 point lower. The NASDAQ was down 14 points.
Heading toward the close West Texas Intermediate Crude Oil futures on the CME were $1.31 to $1.47 higher through the front six contracts.