Cattle futures found some traction Thursday with a let up in Corn futures and perhaps some short covering.
Live Cattle futures closed an average of $1.24 higher (40¢ to $1.72 higher).
Feeder Cattle futures closed an average of $3.07 higher ($2.55 to $3.45 higher).
Corn and Soybean futures took a breather Thursday from the recent steep run-up.
Corn futures closed mostly 7¢ to 8¢ lower.
Soybean futures closed 14¢ to 40¢ lower through Sep ‘24 and then mostly 6¢ lower.
KC HRW Wheat closed mostly 5¢ to 6¢ higher.
Negotiated cash fed cattle trade ranged from limited on light demand to mostly inactive on very light demand through Thursday afternoon, with too few transactions to trend in any region, according to the Agricultural Marketing Service.
So far this week, live prices are $2 lower in the Southern Plains at $180/cwt., $3-$4 lower in Nebraska at $182-$185 and $2-$3 lower in the western Corn Belt at $184-$185.
Last week, dressed prices were $296 in Nebraska and $294-$300 in the western Corn Belt.
Choice boxed beef cutout value was 22¢ higher Thursday afternoon at $334.47/cwt. Select was 45¢ lower at $303.80/cwt.