Negotiated cash fed cattle trade was mostly inactive on light demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. In Nebraska and the Western Corn Belt, trading was limited on light demand. A few live sales in Nebraska traded at $125-$126.
Last week, live prices were at $122/cwt. in the Southern Plains and $124 in the North. Dressed prices were at $195.
Cattle futures faded early pressure Thursday to close mostly higher, perhaps with positioning ahead of this afternoon’s Cattle on Feed report. Heading into mid-day Friday, Feeder Cattle futures continued to edge higher, while Live Cattle were mostly a touch softer.
Live Cattle futures closed an average of 47¢ higher, except for 25¢ lower in near Aug.
Feeder Cattle futures closed an average of 84¢ higher, from 52¢ higher to $1.45 higher at the front.
Choice boxed beef cutout value was $4.63 lower Thursday afternoon at $312.05/cwt. Select was 73¢ higher at $276.14.
Corn and Soybean futures continued mostly lower Thursday with weather pressure
Corn futures closed mostly 1¢ to 2¢ lower.
Soybean futures closed 7¢ to 13¢ lower through Aug ’22, and then mostly 1¢ to 2¢ lower.