Feeder Cattle futures edged an average of 34¢ higher, except for unchanged in Apr., supported by lower Corn futures.
Live Cattle languished, waiting for cash direction. They closed an average of 21¢ lower, except for 2¢ higher spot Feb.
Negotiated cash fed cattle trade ranged from limited on light demand to a standstill, with too few transactions to trend through Thursday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $158/cwt. in the Texas Panhandle, $158-$159 in Kansas, $155-$159 in Nebraska and $154-$160 in the western Corn Belt. Dressed prices were $250.
Choice boxed beef cutout value was $2.09 higher Thursday afternoon at $269.29/cwt. Select was 85¢ higher at $254.01/cwt.
Grain and Soybean futures were down on South American weather and anemic weekly export data.
Corn futures closed 3¢ to 7¢ lower through Jly ‘24 and then mostly 1¢ lower.
KC HRW Wheat closed 11¢ to 17¢ lower.
Soybean futures closed mostly 3¢ to 5¢ lower.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More