Cattle futures stepped lower Thursday, pressured by wariness over a potential strike at the JBS packing plant in Greeley, CO and softer early cash fed cattle prices.
Toward the close, Live Cattle futures were an average of $2.84 lower, except for unchanged in expiring Feb. Feeder Cattle futures were an average of $5.05 lower.
Negotiated cash fed cattle was moderate on moderate demand in the North through Thursday afternoon, according to the Agricultural Marketing Service.
In Nebraska, early dressed delivered prices were $5 lower at $383/cwt. Although too few to trend, there were some FOB live trades at $243-$245; prices last week were mainly $247-$248.
In the western Corn Belt, early FOB live prices were $2-$4 lower at $243. Although too few to trend, there were some dressed delivered trades at $382-$383; prices last week were $388.
Trade was inactive on light to moderate demand in the Southern Plains. FOB live prices there last week were $249.
Choice boxed beef cutout value was $1.34 lower Thursday afternoon at $377.89/cwt. Select was $3.72 higher at $370.79.
Grain and Soybean futures were mixed on Thursday with early pressure from disappointing weekly export sales.
Toward the close, through near Sep contracts, KC HRW Wheat futures were fractionally mixed to 1¢ higher. Corn futures were fractionally higher to 3¢ higher. Soybean futures were mostly unchanged to 2¢ lower.
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