Negotiated cash fed cattle trade was moderate on moderate to good demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
FOB live prices were $2 higher in the Southern Plains at $188/cwt., $2-$3 higher in Nebraska at $190 (a few up to $191) and $2-$3 higher in the western Corn belt at $190-$191. Dressed delivered prices were $2-$7 higher in Nebraska at $302 and $4 higher in the western Corn Belt at $302.
Choice boxed beef cutout value was 29¢ higher Thursday afternoon at $313.73/cwt. Select was $1.02 higher at $303.73/cwt.
Despite the higher cash trade, Cattle futures edged lower Thursday, with some likely positioning ahead of Friday’s monthly Cattle on Feed report.
Live Cattle closed an average of 43¢ lower., except for 57¢ higher in spot Apr.
Feeder Cattle futures closed an average of 88¢ lower (30¢ to $1.07 lower), except for 62¢ higher in spot Mar.
Corn futures closed mostly 1¢ to 2¢ higher, helped along by weekly export numbers.
KC HRW Wheat futures closed mostly 1¢ to 2¢ higher.
Soybean futures closed mostly 1¢ to 3¢ higher, also helped by weekly exports.
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