Cattle futures closed mostly lower Thursday, following stronger support early in the session.
Feeder Cattle futures closed an average of $1.56 lower, except for 57¢ higher in expiring Oct.
Live Cattle futures closed an average of 72¢ lower, (10¢ to $1.10 lower) except for 57¢ higher in waning spot Oct.
Negotiated cash fed cattle trade was slow on light to moderate demand through Thursday afternoon, according to the Agricultural Marketing Service. Although too few to trend in any region, there were some FOB live trades in the Southern Plains at $183/cwt., in Nebraska at $183-$185 and in the western Corn Belt $183.
In established trade so far this week, FOB live prices are $2-$3 lower in the western Corn Belt at $183-$185. Dressed delivered prices are $4 lower in Nebraska and the western Corn Belt at $290.
Last week, FOB live prices were $184-$185/cwt. in the Southern Plains and $186-$187 in Nebraska.
Choice boxed beef cutout value was 65¢ lower Thursday afternoon at 306.85/cwt. Select was $1.97 lower at $279.69/cwt.
Corn futures closed mostly fractionally lower to 1¢ lower.
Soybean futures closed 7¢ to 8¢ lower through Jly ‘24 and then mostly 2¢ lower to fractionally higher.
KC HRW Wheat closed 3¢ to 5¢ higher.