Cattle futures continued lower Thursday, pressured by lower negotiated cash fed cattle prices and the sharp Wall Street selloff.
Toward the close, Live Cattle futures were an average of $2.84 lower. Feeder Cattle futures were an average of $4.36 lower.
Negotiated cash fed cattle trade was light on moderate demand in the South Central region through Thursday afternoon, according to the Agricultural Marketing Service. Trade in the north ranged from light on light demand in Nebraska to light to moderate on moderate to good demand in the Western Corn Belt.
Based on the last established trade, relative to last week, FOB live prices are $7 lower in the South Central region at $218/cwt., mostly $10 lower in Nebraska at mainly $214 and $9.50-$10 lower in the western Corn Belt at $210-$214.50. Dressed delivered prices are $14-$17 lower in Nebraska at $335-$338 and $8-$25 lower in the western Corn Belt at mostly $340.
Choice boxed beef cutout value was 94¢ lower Thursday afternoon at $361.56/cwt. Select was $4.33 lower at $352.32.
Grain futures were lower Thursday.
Through late afternoon, and through the front four contracts, Corn futures were 2¢ to 3¢ lower. Kansas City HRW Wheat futures were fractionally higher to 2¢ higher. Soybean futures were 12¢ to 13¢ lower.
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