Cattle movement was stymied across a broad section of the country on Thursday, courtesy of blizzard conditions and flooding.
Negotiated cash fed cattle trade continued to trickle along at mostly $127 on a live basis in Nebraska.
Cattle futures gained, with support from the continued rally in Lean Hog futures and likely near-term support from the latest round of winter.
Live Cattle futures closed an average 84¢ higher through the front four contracts and then an average of 41¢ higher.
Except for 45¢ lower in spot Mar, Feeder Cattle futures closed an average of 60¢ higher.
Corn futures closed 1¢ to 4¢ higher through Mar ’20 and then mostly fractionally mixed.
Soybean futures closed 2¢ to 3¢ lower through Nov ’20 and then fractionally lower.
Wholesale beef values were weak on light to moderate demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 54¢ lower Thursday afternoon at $227.70/cwt. Select was 52¢ lower at $218.76.