Live Cattle futures an average of 81¢ higher.
Negotiated cash fed cattle trade and demand ranged from slow on light to moderate demand to a standstill through Thursday afternoon, according to the Agricultural Marketing Service.
Although there were too few transactions to trend in any region, there were some early FOB live trades in the western Corn Belt at $188-$189/cwt and a few in Kansas at $186.
Last week, FOB live prices were $180/cwt. in the Southern Plains and $188 in Nebraska and the western Corn Belt. Dressed prices were $295 in a light test.
Choice boxed beef cutout value was $1.49 lower Thursday afternoon at $302.03/cwt. Select was 97¢ lower at $277.80/cwt.
Net U.S. beef export sales (2023) for the week ending Aug. 3 of 14,800 metric tons were 19% more than the previous week, but 8% less than the prior four-week average. Increases were primarily for South Korea, Japan, China, Mexico and Hong Kong, according to the weekly U.S. Export Sales report.
As for the other side of the ledger, Grain and Soybean futures firmed Thursday with likely positioning ahead of Friday’s widely anticipated World Agricultural Supply and Demand Estimates, with forecast yields top of mind for many.
Corn futures closed mostly fractionally higher to 2¢ higher.
KC HRW Wheat closed 3¢ to 5¢ higher.
Soybean futures closed 8¢ to 10¢ higher, except for old-crop contracts.