Negotiated cash fed cattle trade was undeveloped through Thursday afternoon.
Month-end positioning appeared to be the primary pressure on cattle futures Thursday. For the short term, there was also chatter about this week’s extreme cold dampening consumer demand across impacted areas.
Live Cattle futures closed an average of $1.36 lower.
After 27¢ lower in expiring Jan, Feeder Cattle futures closed an average of $1.38 lower.
Corn futures closed mostly 2¢ to 4¢ lower.
Soybean futures closed 3¢ to 5¢ lower through Jul ’20 and then 1¢ to 2¢ lower.
Wholesale beef values were lower on Choice and steady on Select, with light to moderate demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $2.66 lower Thursday afternoon at $215.39/cwt. Select was 12¢ lower at $212.88.