Negotiated cash fed cattle trade was limited on light demand in Nebraska and in the western Corn Belt through Thursday afternoon, according to the Agricultural Marketing Service. There were a few live sales in Nebraska at $107/cwt. and a few dressed trades at $168, but too few to trend. Last week, live sales there were at $110 and dressed sales were at $172-$174.
In other regions this week:
Southern Plains—$108, which is $2 less than last week.
Western Corn Belt—$104-$105 on a live basis, which is $5 less than last week; $168 in the beef, which is $6 lower.
Cattle futures closed higher Thursday, with more activity, perhaps by bottom picking funds looking ahead to stronger demand once COVID-19 vaccinations take root.
Live Cattle futures closed an average of 67¢ higher.
Feeder Cattle futures closed an average of 58¢ higher.
Choice boxed beef cutout value was $3.67 lower Thursday afternoon at $214.59/cwt. Select was $3.18 lower at $198.47.
The average dressed steer weight the week ending Nov. 28 was 921 lbs., which was 2 lbs. lighter than the previous week but 10 lbs. heavier than the previous year, according to USDA’s Actual Slaughter Under Federal Inspection report. The average dressed heifer weight was 850 lbs., which was 3 lbs. heavier than the prior week and 10 lbs. heavier than the prior year.
Net U.S. beef export sales for 2020 of 3,000 metric tons (mt) were 78% less than the previous week and 80% less than the prior four-week average, according to the weekly U.S. Export Sales report from USDA’s Foreign Agricultural Service. Increases were primarily for Japan, Canada, China, and Indonesia.