Cattle futures paused from the recent surge on Wednesday.
Live Cattle futures closed narrowly mixed, from an average of 13¢ lower in four contracts to an average of 19¢ higher.
Feeder Cattle futures closed from an average of 34¢ lower, except for an average of 8¢ higher in three contracts.
Cattle futures were mainly higher through mid-day Thursday.
Negotiated cash fed cattle trade was inactive on light to moderate demand in all regions through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $235/cwt. in Kansas, $234-$235 in Nebraska and mainly $235 in the western Corn Belt. Delivered prices were $362.
FOB live prices in the Texas Panhandle the previous week were $233.
Many anticipate sharply higher cash fed cattle prices when gets underway this week.
Choice boxed beef cutout value was $2.06 higher Wednesday afternoon at $366.48/cwt. Select was $1.39 lower at $349.16.
Grain and Soybean futures were narrowly mixed Wednesday.
Corn futures closed 2¢ to 3¢ higher through Mar ‘27. KC HRW Wheat closed fractionally lower. Soybean futures closed mostly fractionally higher to 1¢ higher.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More