Negotiated cash fed cattle trade developed Thursday at mostly decidedly lower money. Except for mostly steady in Kansas at $110/cwt., live trade was $2-$4 lower at $110 in Nebraska and the Texas Panhandle; $110-$114 in the western Corn Belt. Dressed trade was $3-$4 lower at $180-$183.
Resurgent corn prices—after a couple of days of repositioning—weighed heavy on Cattle futures Thursday.
Live Cattle futures closed an average of 69¢ lower.
Feeder Cattle futures closed an average of $1.47 lower.
Corn futures closed 7¢ to 10¢ higher through Jul ‘20 and then mostly fractionally higher to 1¢ lower.
Soybean futures closed 10¢ to 13¢ higher through Jan ‘21 and then mostly 9¢ higher.
Wholesale beef values were lower on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 87¢ lower Thursday afternoon at $220.72/cwt. Select was 76¢ lower at $201.48.