Negotiated cash fed cattle trade was limited on light demand in all major feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, live prices are steady to $2 lower in the Southern Plains at $120-$122/cwt. and unevenly steady in the North at $124-$126. Dressed prices are steady to $1 higher at $197-$198.
Cattle futures rallied back Thursday, following heavy pressure from grains in the previous session.
Live Cattle futures closed an average of $1.03 higher.
Feeder Cattle futures closed an average of $1.27 higher.
Choice boxed beef cutout value was $2.17 lower Thursday afternoon at $230.23/cwt. Select was $1.52 lower at $205.35.
The average dressed steer weight the week ending June 19 was 879 lbs., according to USDA’s Actual Slaughter Under Federal Inspection report. That was 3 lbs. lighter than the previous week and 11 lbs. lighter than the same week last year. The average dressed heifer weight was 2 lbs. heavier week to week at 813 lbs., but 10 lbs. lighter than a year earlier.
Corn and Soybean futures finished Thursday a touch softer amid volatile trade, following the previous day’s limit-up and near limit-up moves in the front months.
Corn futures closed mostly 1¢ to 3¢ lower.
Soybean futures closed down between 1¢ and 3¢ lower through the front six contracts and then mostly 3¢ to 6¢ lower.