Negotiated cash fed cattle trade was limited on moderate demand in Nebraska and the western Corn Belt through Thursday afternoon, according to the Agricultural Marketing Service. Live sales were steady to $2 higher in the western Corn Belt at $124/cwt., while dressed prices were steady at $196. There were too few to trend in Nebraska, where prices the previous day were steady to $2 higher at $124; steady in the beef at $196.
Trade in the Southern Plains was mostly inactive on light demand with too few transactions to trend. On Wednesday, live prices were steady at $124.
Higher outside markets and the slight increase in some regional cash prices helped draw more buying interest to Cattle futures Thursday.
Live Cattle futures closed an average of 78¢ higher (35¢ higher toward the back to $1.30 higher toward the front).
Feeder Cattle futures closed an average of 84¢ higher.
Choice boxed beef cutout value was 30¢ higher Thursday afternoon at $280.32/cwt. Select was $1.98 higher at $260.68.
Corn futures closed mostly 1¢ to 3¢ higher.
Soybean futures closed 5¢ to 11¢ higher through Sep ’22 and then mainly 1¢ lower.