Feeder Cattle futures firmed Thursday, closing an average of 87¢ higher, except for 27¢ lower in expiring Apr. They were helped along by the mainly narrowly mixed close in Corn futures.
The overall continued decline in wholesale beef prices and weaker weekly exports helped pressure Live Cattle Live futures an average of 47¢ lower, except for unchanged in almost-spent spot Apr.
Choice Boxed beef cutout value was 69¢ higher Thursday afternoon at $262.60/cwt. Select was $1.26 lower at $251.06.
Negotiated cash fed cattle trade ranged from a standstill to mostly inactive, with too few transactions too trend, according to the Agricultural Marketing Service.
So far this week, live prices are steady in the Southern Plains at $140/cwt.; steady to $1 higher in the Northern Plains at $144-$146 and in the Western Corn Belt at $145-$147. Dressed prices are $2 higher at $232.