Negotiated cash fed cattle prices were $4-$6 higher than last week on a live basis in Nebraska through Thursday afternoon at $107/cwt., and $3-$4 higher in the western Corn Belt at $105-$106. Dressed trade was $2-$9 higher at $167, according to the Agricultural Marketing Service. Trade in the Southern Plains earlier in the week was $1 higher at $106.
Cattle futures closed mixed though, with Live Cattle edging higher and Feeder Cattle trading narrowly mixed, under continued pressure from higher grain prices.
Live Cattle futures closed an average of 46¢ higher, except for unchanged in the back contract.
Feeder Cattle futures closed mixed, from an average of 26¢ lower to an average of 43¢ higher.
Grain futures, especially soybeans continued higher on mainly positive exports and adverse weather in South America.
Corn futures closed mostly 3¢ to 4¢ higher through Jly ‘21 and then mostly 1¢ to 2¢ higher.
Soybean futures closed 17¢ to 22¢ higher through Aug ‘21 and then mostly 10¢ to 13¢ higher. The spot month breeched the $11 mark for the first time in recent memory.