Negotiated cash fed cattle trade was limited on moderate demand in Kansas, Nebraska and the western Corn Belt through Thursday afternoon, according to the Agricultural Marketing Service. There were a few live trades at $110/cwt. and a few in the beef at $172, but too few to trend. Established prices for the week are mainly steady with live trade at $110 in the Southern Plains and Nebraska and at $109-$110 in the western Corn Belt. Dressed prices are steady at $172.
Cattle futures closed sharply lower Thursday. Lingering pressures include persistently higher grain prices and languishing cash fed cattle prices. Chatter about fears of more pandemic-driven packing disruptions contributed to the day’s decline.
Live Cattle futures closed an average of $1.85 lower, from 92¢ lower at the back to $2.62 lower.
Feeder Cattle futures closed an average of $2.10 lower, except for 25¢ lower in expiring Nov.
Choice boxed beef cutout value was $1.86 higher Thursday afternoon at $237.70/cwt. Select was 27¢ higher at $213.89.
Net U.S. beef export sales (2020) for the week ending Nov. 12 totaled 46,400 metric tons, up noticeably from the previous week and the prior four-week average, according to the weekly U.S. Export Sales report from USDA’s Foreign Agricultural Service. Increases were primarily for South Korea, Mexico, Japan, Hong Kong and Taiwan.
Corn futures closed 1¢ to 3¢ lower.
Soybean futures closed fractionally mixed to 4¢ higher.