Cattle futures were mixed to lower on Thursday with profit taking, the week’s lower negotiated cash fed cattle prices, weaker wholesale beef values and likely month-end position squaring.
Toward the close, Live Cattle futures were an average of 50¢ lower, except for 2¢ higher in away-Dec.
Feeder Cattle futures were narrowly mixed, from an average of 46¢ lower in four contracts to an average of 44¢ higher.
Negotiated cash fed cattle trade was light on moderate demand in the North through Thursday afternoon, according to the Agricultural Marketing Service.
Based on last established trade, FOB live prices are $2.50 to $5 lower than last week in Nebraska at $223-$226/cwt. and mostly $3-$5 lower in the western Corn Belt at $222-$224.
Dressed delivered prices in Nebraska are $10 lower at mostly $348 and $5-$10 lower in the western Corn Belt at $350-$360.
Choice boxed beef cutout value was $1.72 lower Thursday afternoon at $367.28/cwt. Select was $3.62 lower at $351.63.
Grain and Soybean futures were mostly lower on Thursday.
Through late afternoon, and through the front four contracts, Corn futures were unchanged to fractionally lower.
Kansas City HRW Wheat futures were fractionally lower to 1¢ higher with support from chatter about Chinese demand.
Soybean futures were mostly 2¢ to 4¢ lower.
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