Negotiated cash fed cattle trade was moderate on moderate demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. Live prices were $4-$5 higher in the Texas Panhandle at $140/cwt. and $4 higher in Kansas at $140.
Elsewhere, trade was limited on light demand with too few transactions to trend. On Wednesday, live prices were $4-$5 higher in Nebraska at $144-$148 and mostly $4 higher in the western Corn Belt at $145-$148. Dressed prices were $2-$3 higher in Nebraska at $229-$230 and toward the top of last week’s trading range in the western Corn Belt at $229.
Choice Boxed beef cutout value was 13¢ lower Thursday afternoon at $263.10/cwt. Select was 38¢ higher at $237.46/cwt.
Cattle futures closed narrowly mixed Thursday, up for Live Cattle with stronger cash prices and lower for Feeder Cattle amid higher Corn futures.
Feeder Cattle futures closed an average of 37¢ lower.
Live Cattle futures closed an average of 35¢ higher (7¢ higher toward the back to $1.40 higher in spot Aug).
Corn and soybean futures rose Thursday, with likely positioning ahead of Friday’s World Agricultural Supply and Demand Estimates.
Corn futures closed mostly 4¢ to 8¢ higher.
Soybean futures closed mostly 19¢ to 20¢ higher.