Negotiated cash fed cattle trade ranged from moderate on moderate demand to mostly inactive on light demand through Thursday afternoon, according to the Agricultural Marketing Service.
FOB live prices were $1 higher in the Texas Panhandle at $172/cwt., $1-$2 higher in Kansas at $172 and mostly $2 higher in the western Corn Belt at $172-$172.50.
Last week, FOB live prices were $171-$172 in Nebraska. Dressed delivered prices were $270.
Choice boxed beef cutout value was 20¢ lower Thursday afternoon at 291.28/cwt. Select was $1.08 lower at $259.24/cwt.
Cattle futures softened Thursday amid light trade once again and perhaps with some year-end position squaring.
Feeder Cattle futures closed an average of $1.42 lower (72¢ to $2.27 lower).
Live Cattle futures closed an average of 44¢ lower, except for an average of 34¢ higher at either end of the board.
Corn futures closed mostly 1¢ to 2¢ lower.
KC HRW Wheat futures closed mostly 4¢ to 5¢ higher, helped along by increased tensions in the Black Sea.
Soybean futures closed mostly 4¢ to 8¢ lower.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More