Negotiated cash fed cattle trade ranged from limited on light demand in the western Corn Belt to light to moderate on moderate demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, live prices are $1 higher in the Southern Plains at $143/cwt. and $1-$2 higher in Nebraska at $146-$147. Dressed prices are $2 higher at $230. Live prices in the western Corn Belt last week were $145.
Despite stronger cash prices, Cattle futures faded a bit.
Feeder Cattle futures closed an average of 37¢ lower (17¢ to 82¢ lower) except for an average of 25¢ higher in the back two contracts.
Live Cattle futures closed an average of 10¢ lower except for unchanged in one contract and 65¢ higher in spot Oct.
Choice Boxed beef cutout value was 30¢ higher Thursday afternoon at $247.36/cwt. Select was $2.23 lower at $216.99/cwt.
Grain futures weakened Thursday, pressured by slowing exports impeded by the strength of the U.S. Dollar.
Corn futures closed 6¢ to 8¢ lower through Jly ‘23 and then mostly 1¢ lower to 3¢ higher.
Soybean futures closed 7¢ to 11¢ lower through Jly ‘23 and then mostly 1¢ to 2¢ lower.