Feeder Cattle futures lost ground Thursday, closing an average of 81¢ lower amid lighter trade and firming Corn futures.
Live Cattle futures paddled in place awaiting more direction. Other than 27¢ higher in spot Feb, they closed an average of 21¢ lower.
Corn futures closed 2¢ to 4¢ higher.
Soybean futures closed 3¢ to 5¢ higher through Mar ’23 and then mostly 1¢ lower.
Negotiated cash fed cattle trade was slow on light demand in Nebraska through Thursday afternoon, according to the Agricultural Marketing Service. There were a few live sales at $142.00-$142.50/cwt., but too few to trend.
Elsewhere, trade was limited in light demand. Although too few to trend, there were a few live trades in the Texas Panhandle at $142.
In established trade so far this week, live prices are $2 higher in Nebraska and the Southern Plains at $142 and $1-$2 higher in the western Corn Belt at $142-$143. Dressed prices are $2 higher at $226.
Choice Boxed beef cutout value was 3¢ lower Wednesday afternoon at $269.59/cwt. Select was $1.23 lower at $264.85.