Negotiated cash fed cattle trade was slow on light to moderate demand in the North through Thursday afternoon, according to the Agricultural Marketing Service. Based on the latest established trends, FOB live prices are $1-$2 lower in Nebraska at $185/cwt. and $3 lower in the western Corn Belt at $182-$185. Dressed delivered prices are $4 lower at $290.
Trade was limited on light demand in the Southern Plains. Although too few to trend, there were some early FOB live trades at $185. Prices last week were $187.
Choice boxed beef cutout value was $3.14 lower Thursday afternoon at $303.80/cwt. Select was $2.00 lower at $276.66.
Cattle futures were mostly lower Thursday, pressured by lower cash fed cattle prices and sluggish wholesale beef values.
Toward the close, Live Cattle futures were an average of 95¢ lower.
Feeder Cattle futures were an average of 56¢ lower, except for $1.22 higher in spot Nov and unchanged at the back.
Grain and Soybean futures were lower Thursday, with pressure from the stronger U.S. Dollar and positive growing conditions.
Toward the close and through Sep ’25 contracts, Corn futures were 4¢ to 7¢ lower. Kansas City Wheat futures were 6¢ to 8¢ lower. Soybean futures were 14¢ to 19¢ lower.
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Major U.S. financial indices were lower Thursday. Besides potential rally fatigue, the results of the latest Consumer Price Index, though expected, continue reflecting stubborn inflation.
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a seasonally adjusted basis in October, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, the all items index increased 2.6% before seasonal adjustment.
The Dow Jones Industrial Average closed 207 points lower. The S&P 500 closed 36 points lower. The NASDAQ was down 123 points
Through midafternoon, West Texas Intermediate Crude Oil futures on the CME were 13¢ to 23¢ higher through the front six contracts.