Snug supplies and demand-based aggressive slaughter helped negotiated cash fed cattle prices pull ahead with more gusto this week.
Live prices were $3 higher in the Texas Panhandle at $148/cwt. on moderate trade and light to moderate demand, according to the Agricultural Marketing Service. Prices were $4 higher in Nebraska at mostly $152 on moderate demand and trade. Dressed prices in Nebraska were $4 higher at $236.
There were some live sales in the western Corn Belt at $150 and $236 in the beef, but too few to trend. Live prices there Wednesday were $2 higher at $150. Dressed prices last week were $230-$232.
Choice Boxed beef cutout value was 23¢ higher Thursday afternoon at $253.62/cwt. Select was 11¢ lower at $222.08/cwt.
Cattle futures closed mixed, though, between resurgent Corn futures but stronger cash fed cattle prices.
Feeder Cattle futures closed an average of 79¢ lower (52¢ to $1.02 lower), except for 35¢ higher in spot Oct.
Live Cattle futures closed narrowly mixed, from an average of 22¢ lower in four contracts to an average 34¢ higher
Corn futures closed mostly 3¢ to 5¢ higher.
Soybean futures closed 14¢ to 19¢ higher through Jly ‘23.and then mostly 9¢ higher.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More