Negotiated cash fed cattle trade was slow with light to moderate demand in Nebraska and the western Corn Belt through Thursday afternoon, according to the Agricultural Marketing Service.
Although there were too few to trend, early dressed sales in Nebraska were at $180/cwt., which was $2 more than last week. Live sales there last week were at $112-$113.
In the western Corn Belt, early dressed sales were steady to $2 higher than last week at $178-$180, but too few to trend. Early live sales were 50¢ to $3 higher at $113, but too few to trend.
Trade was mostly inactive on very light demand in the Southern Plains. Live prices there last week were at $113.
Cattle futures closed higher Thursday, extending gains from the previous session, with moderating grain futures prices and the outlook for higher cash fed cattle prices.
Live Cattle futures closed an average of 50¢ higher, from 12¢ higher to $1.30 higher.
Feeder Cattle futures closed an average of 63¢ higher.
Choice boxed beef cutout value was $1.03 lower Thursday afternoon at $234.25/cwt. Select was $2.95 lower at $220.44.
Corn futures closed fractionally mixed to 2¢ lower through Sep ’21 and then mostly 1¢ to 2¢ higher.
Soybean futures closed mostly 1¢ to 4¢ higher through Sep ‘21, and then mostly 7¢ to 8¢ higher.