Negotiated cash fed cattle prices sank in the North on Thursday.
In Nebraska, dressed sales were at $165-$172/cwt., which was $6-$10 lower than the bulk of last week’s light test. Early live sales for the week are at $106, which is $1-$2 lower.
Dressed sales in the western Corn Belt were at $171, which was $3-$7 lower than last week. For the week so far, live sales are at $109, which is $1 less than last week.
Surging Lean Hog futures—perhaps tied in part, to hopeful rhetoric surrounding trade talks with China—helped lift Cattle futures Thursday, although they closed off of session highs.
Except for 20¢ lower in the back contract, Live Cattle futures closed an average of 31¢ higher.
Other than unchanged in expiring Aug and 2¢ lower in March, Feeder Cattle futures closed an average of 22¢ higher.
Wholesale beef values were lower on Choice and higher on Select with light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 77¢ lower Thursday afternoon at $232.19/cwt. Select was 97¢ higher at $212.78.
After 3¢ lower in spot Sep, Corn futures closed mostly 1¢ higher.
Soybean futures closed mostly 1¢ to 2¢ higher.