Negotiated cash fed cattle trade remained undeveloped through Thursday afternoon.
Spot Feeder Cattle futures pressured the entire cattle complex. Factors included stronger grain prices and the continued erosion in cash calf and feeder cattle prices, tied to weather.
Live Cattle futures closed an average of 65¢ lower.
Feeder Cattle futures closed an average of $1.25 lower (72¢ lower to $2.35 lower in spot Jan).
Corn futures closed 3¢ to 6¢ higher through Sep ’20 and then 1¢ to 2¢ higher.
Soybean futures closed 10¢ to 13¢ higher through Jan ’20 and then mostly 6¢ to 7¢ higher.
Wholesale beef values were firm on moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 57¢ higher Thursday afternoon at $212.50/cwt. Select was 70¢ higher at $207.64.