Lower outside markets helped push Feeder Cattle futures lower Thursday; mixed for Live Cattle. However, futures closed off of session lows, helped along by increasing odds that negotiated cash fed cattle prices will be steady to higher this week.
Although trade remained undeveloped through late Thursday afternoon, and there were too few to trend, some early dressed sales in Nebraska traded at $175/cwt., which was $1 higher than the bulk of last week’s trade.
Live Cattle futures closed narrowly mixed (30¢ lower to 42¢ higher).
Feeder Cattle futures closed an average of 85¢ lower.
Wholesale beef values were weak on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 56¢ lower Thursday afternoon at $203.86/cwt. Select was 32¢ lower at $191.98.