Negotiated cash fed cattle trade for the week so far is generally $1-$2 higher on a live basis at $96/cwt. in the Southern Plains, $98 in the Northern Plains and $99-$100 in the western Corn Belt. Dressed trades are mostly $1 higher at $158.
Cattle futures softened a touch Thursday, despite firmer cash fed cattle and wholesale beef prices, and ahead of Friday’s Cattle on Feed report and the semiannual Cattle inventory report.
Live Cattle futures closed an average of 51¢ lower (20¢ at the back to $1.12 lower toward the front).
Except for 50¢ higher in spot Aug, Feeder Cattle futures closed from unchanged to an average of 14¢ lower.
Choice boxed beef cutout value was $1.11 higher Thursday afternoon at $202.26/cwt. Select was $1.51 higher at $190.79.
The average dressed heifer weight for the week ending July 11 was 902 lbs. which was 6 lbs. heavier than the previous week and 37 lbs. heavier than the same week last year, according to USDA’s Actual Slaughter Under Federal Inspection report. The average dressed heifer weight of 829 lbs. was 3 lbs. heavier than the prior week and 38 lbs. more than the prior year.
Corn futures closed mostly fractionally higher to 1¢ higher.
Soybean futures closed 4¢ to 7¢ higher through Mar ’21 and then mostly 1¢ to 3¢ higher.