Negotiated cash fed cattle trade was limited with light demand in all feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, live sales are: $1-$2 higher in the Texas Panhandle at $121-$122/cwt.; $1 higher in Kansas at $121; $3 higher in Nebraska at $125; $1-$2 higher in the western Corn Belt at $125-$126. Dressed trade is $2 higher in Nebraska at $198; $3 higher to $3 lower at $198 in the western Corn Belt.
Heavy pressure in Lean Hog futures weighed on Live Cattle Thursday, despite higher cash and wholesale prices.
Live Cattle futures closed an average of 96¢ lower with more pressure at the front (52¢ to $1.47 lower).
Higher Corn futures pressured Feeder Cattle futures.
Feeder Cattle futures closed an average of $1.59 lower.
Choice boxed beef cutout value was $3.24 higher Thursday afternoon at $292.58/cwt. Select was $2.62 higher at $273.77/cwt.
Corn futures closed 5¢ to 10¢ higher through the front six contracts and then mostly fractionally higher to 1¢ higher.
Soybean futures mixed, from 4¢ lower to 3¢ higher.