Cattle futures moved lower again on Thursday with follow-through pressure and lower negotiated cash fed cattle prices for the week.
Toward the close, Live Cattle futures were an average of 74¢ lower, except for $1.85 higher in the back contract. Feeder Cattle futures were an average of $4.96 lower.
Negotiated cash fed cattle trade was limited on moderate demand in all cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, FOB live prices are $3-$4/cwt. lower in the Texas Panhandle at $232 and $3-$5 lower in Kansas at $232. FOB live prices are unevenly steady in Nebraska at $230-$230.50 and mostly $2 lower in the western Corn Belt at mainly $228. Dressed delivered prices are steady to $1 lower in Nebraska at $357-$360 and steady to $3 lower in the western Corn Belt at $355-$360.
Choice boxed beef cutout value was 29¢ lower Thursday afternoon at $377.97/cwt. Select was 51¢ higher at $360.76.
Grain and Soybean futures were lower Thursday with likely profit taking, farmer selling and weaker outside markets.
Toward the close and through Jly contracts, Corn futures were 6¢ lower. KC HRW Wheat futures were 16¢ to 17¢ lower. Soybean futures were 20¢ to 28¢ lower.
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Major U.S. financial indices closed lower Thursday, as investors soured on artificial intelligence companies once again.
The Dow Jones Industrial Average closed 398 points lower. The S&P 500 closed 75 points lower. The NASDAQ was down 445 points.
Though mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 2¢ to 11¢ lower through the front six contracts.