Cattle futures continued to unwind Thursday. Toward the close, Live Cattle futures were an average of $2.01 lower. Feeder Cattle futures were an average of $3.92 lower.
Negotiated cash fed cattle trade ranged from light on moderate demand in the western Corn Belt to limited on moderate demand in Nebraska and Kansas. Trade was mostly inactive on light to moderate demand in the Texas Panhandle.
Based on the last established trade, FOB live prices for the week are $4 lower in the Southern Plains at $224/cwt., mostly $7-$8 lower in Nebraska at mainly $218-$219 and $7-$12 in the western Corn Belt at mostly $215. Dressed delivered prices are $8-$10 lower in Nebraska at $340-$347 and mostly $8-$10 lower in the western Corn Belt at $340-$347.
Choice boxed beef cutout value was 5¢ higher Thursday afternoon at $371.28/cwt. Select was 63¢ higher at $354.18.
Grain and Soybean futures continued lower Thursday.
Toward the close and through Jly contracts, Corn futures mostly 3¢ to 4¢ lower. KC HRW Wheat futures were 8¢ to 9¢ lower. Soybean futures were mostly 9¢ to 13¢ lower.
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