Cattle futures were mainly lower Thursday, despite the previous day’s surge in cash fed cattle prices. Toward the close, Live cattle futures were an average of 52¢ lower, except for an average of 79¢ higher in the front two contracts.
Feeder Cattle futures were an average of $1.39 lower, except for 47¢ higher in spot May with likely follow-through technical pressure.
Negotiated cash fed cattle trade was light on very good demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, FOB live prices are $6 higher in the Texas Panhandle at mostly $218/cwt., $5-$8 higher in Kansas at mostly $218, $4-$5 higher in Nebraska at $222-$223 and $4-$5 higher in the western Corn Belt at mostly $222.
Dressed delivered prices are $7-$10 higher in Nebraska at $350 and $8-$10 higher in the western Corn Belt at $350.
Choice boxed beef cutout value was $2.14 lower Thursday afternoon at $343.17/cwt. Select was $2.26 higher at $324.28.
Grain and Soybean futures were mixed Thursday with likely influence from weekly export sales.
Toward the close and through Sep ’25 contracts, Corn futures were fractionally lower to 4¢ lower. Net U.S. corn export sales for the week ending April 25 were 12% less than the previous week and 13% less than the prior four-week average, according to the weekly USDA export sales report.
Kansas City Wheat futures were 1¢ lower after 7¢ higher in spot May. Net U.S. wheat export sales were down noticeably from the previous week and down 24% from the prior four-week average.
Soybean futures were 5¢ to 6¢ higher. Net U.S. soybean export sales were 55% higher week to week and 27% more than the prior four-week average.
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