Cattle closed mainly higher Thursday, supported by another day of bullish outside markets.
Live cattle futures closed an average of 90¢ higher. Feeder Cattle futures closed an average of 52¢ higher, except for an average of 6¢ lower in the back two contracts. From last Thursday to the previous Friday, Live Cattle futures closed an average of $1.06 higher and Feeder Cattle futures closed an average of 88¢ higher, except for 27¢ lower in the back contract.
Negotiated cash fed cattle trade was limited on moderate demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were mainly steady in the Texas Panhandle at $224/cwt., mostly $1 lower in Kansas at $224, steady in Nebraska at $230-$232 and unevenly steady in the western Corn Belt at $230-$233. Dressed delivered prices were steady in Nebraska at $368. Dressed delivered prices in the western Corn Belt the previous week were $368-$370.
Choice boxed beef cutout value was $5.11 lower Thursday afternoon at $389.75. Select was $1.87 lower at $378.44.
Grain and Soybean futures were mixed Thursday.
Corn futures closed mainly 1¢ to 3¢ higher. Kansas City Wheat futures closed mostly 2¢ to 4¢ lower. Soybean futures closed 1¢ to 5¢ higher.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More