Cattle futures continued a downward correction Thursday.
Live Cattle futures closed an average of 60¢ lower.
Feeder Cattle futures closed an average of 93¢ lower (37¢ to $1.85 lower).
Negotiated cash fed cattle trade ranged from slow on light demand to moderate on moderate demand through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, FOB live prices are steady to $1 higher in the Southern Plains at $183/cwt., steady in Nebraska at $183 and steady to $1 higher in the western Corn Belt at $183-$184. Dressed delivered prices are $2 lower in Nebraska at $290 and steady to $2 lower in the western Corn Belt at $290.
Choice boxed beef cutout value was $1.17 higher Thursday afternoon at $304.20/cwt. Select was $1.24 higher at $294.18/cwt.
Corn futures closed mostly fractionally higher to 2¢ higher.
KC HRW Wheat futures closed 2¢ to 7¢ higher.
Soybean futures closed 1¢ to 5¢ lower.
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