For the week so far, negotiated cash fed cattle trade is mainly $1 higher on a live basis at $116/cwt. in the Southern Plains and at $115-$117 up north. Dressed trade is $2 higher at $184.
Cattle futures closed lower Thursday, though, especially Feeder Cattle, as wholesale beef values show signs of seasonal weakening, and ahead of Friday’s Cattle on Feed report.
Other than 2¢ higher in spot Dec, Live Cattle futures closed an average of 49¢ lower
Feeder Cattle futures closed an average of $1.18 lower.
Wholesale beef values were sharply lower on light demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $3.35 lower Thursday afternoon at $234.86/cwt. Select was 91¢ lower at $213.86.
Corn futures closed mostly fractionally higher to 1¢ higher.
Soybean futures closed 1¢ to 4¢ lower.