Except for some scattered sales in Kansas on Thursday—steady with the previous day’s higher market in the Southern Plains at $112/cwt.—negotiated cash fed cattle trade remained undeveloped, based on USDA reports.
Cattle futures pulled back from the strong rally the previous day, pressured by outside markets on new doubts about a U.S.-China trade deal.
Live Cattle futures closed an average of 63¢ lower (15¢ lower at the back to $1.70 lower in expiring Oct).
Feeder Cattle futures closed an average of 19¢ lower.
Wholesale beef values were sharply higher on Choice and steady on Select, with moderate to good demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $2.13 higher Thursday afternoon at $232.18/cwt. Select was 18¢ lower at $206.49.
Corn futures closed mostly fractionally lower.
Soybean futures closed mostly 2¢ higher.