Cattle feeder patience paid off Thursday as packers paid mostly steady to higher money.
Negotiated cash fed cattle trade was slow on moderate demand in the Southern Plains through Thursday afternoon at $155/cwt. That was steady to $2 higher in the Texas Panhandle but steady to $1 lower in Kansas.
Trade was slow to moderate on moderate demand in Nebraska and the western Corn Belt. Dressed prices were $248, which was $1 higher in Nebraska and $1-$2 higher in the western Corn Belt, where live prices were unevenly steady at $155-$157. Live prices in Nebraska last week were $156-$158.
In Colorado, trade was mostly inactive on very light demand, with too few transactions to trend, according to the Agricultural Marketing Service. Live prices there last week were $157.
Choice Boxed beef cutout value was $4.23 higher Thursday afternoon at $254.30/cwt. Select was $1.82 higher at $228.51/cwt.
Bearish outside markets, firmer Corn futures and light trade helped pressure Cattle futures Thursday.
Feeder Cattle futures closed an average of 50¢ lower.
Live Cattle futures closed an average of 45¢ lower (7¢ to 85¢ lower).
Corn futures closed mostly 1¢ to 2¢ higher.
Soybean futures closed mostly 3¢ to 8¢ lower.