Cattle futures closed mixed to lower Thursday with follow-through pressure from declining open interest and lingering concerns about the nation’s economy.
Feeder Cattle futures closed an average of 65¢ lower.
Live Cattle futures closed mixed, from an average of 48¢ lower to an average of 27¢ higher.
Negotiated cash fed cattle trade ranged from slow on light to moderate demand to mostly inactive on light demand through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, FOB live prices are $1 lower at $182/cwt. in the Southern Plains and at $183 up north. Dressed delivered prices in Nebraska are steady to $2 lower at $288-$290. Dressed delivered prices were $290 in the western Corn Belt last week.
Choice boxed beef cutout value was $1.00 higher Thursday afternoon at $297.76/cwt. Select was 10¢ lower at $274.77/cwt.
Wheat futures climbed Thursday on new shipping concerns related to Russia’s war on Ukraine, dragging Corn futures higher.
Corn futures closed 11¢ higher through Jly ‘24 and then mostly 5¢ to 8¢ higher.
KC HRW Wheat closed 18¢ to 24¢ higher through May ‘25 and then mostly 12¢ higher.
Soybean futures closed 3¢ to 7¢ higher through Aug ‘24 and then mostly 1¢ higher.