Negotiated cash fed cattle trade remained undeveloped through Thursday afternoon.
Feeder Cattle futures crept mostly higher, while Live Cattle hovered amid sluggish two-sided trading.
Except for 25¢ higher in the front two contracts Live Cattle futures closed an average of 28¢ lower.
Except for 20¢ and 12¢ lower in the front two contracts, Feeder Cattle futures closed an average of 58¢ higher (10¢ to 95¢ higher).
Wholesale beef values were firm to higher on moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.03 higher Thursday afternoon at $215.63/cwt. Select was 54¢ higher at $186.66.
Corn futures closed 12¢ to 14¢ lower through Jul ’20 and then 1¢ to 4¢ lower. Thursday’s World Agricultural Supply and Demand Estimates (see below) were much more production friendly than traders and pre-report estimates expected.
Soybean futures closed fractionally lower through Aug ’20 and then mostly 2¢ to 4¢ lower.