Negotiated cash fed cattle trade on Thursday continued steady with last week in Nebraska and the western Corn Belt at mostly $115/cwt. on a live basis. Dressed sales were steady to $1 higher at $182.
Cattle futures strengthened on Thursday, regaining some of the losses from the previous session, with continued overall strength in beef demand.
Live Cattle futures closed an average of 59¢ higher (32¢ higher to 97¢ higher in spot Dec).
Feeder Cattle futures closed an average of 84¢ higher, (42¢ to $1.22 higher).
Wholesale beef values were lower on light to moderate demand and moderate to heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.28 lower Thursday afternoon at $241.06/cwt. Select was $1.69 lower at $215.84.
Steer carcasses weighed an average of 903 lbs. for week ending Nov. 2, which was 3 lbs. lighter than the previous week, but 4 lbs. heavier than the same time a year earlier, according to the most recent USDA Actual Slaughter Under Federal Inspection report. Fed heifer carcasses weighed an average of at 835 lbs., on par with the previous week and year.
Corn futures closed mostly 1¢ higher.
Soybean futures closed mostly unchanged to 3¢ lower, but 1¢ higher in a couple of the front months.