Negotiated cash fed cattle prices in Kansas on Thursday were steady to $2 higher at $107-$108/cwt., according to the Agricultural Marketing Service. Although there were too few transactions to trend, there was some live trade in Nebraska at $108, which was mainly $1 higher than last week. A day earlier, dressed trade started the week $1-$2 higher at $169, but too few to trend.
Cattle futures, especially Feeder Cattle softened Thursday, perhaps with some defensiveness ahead of Friday’s monthly World Agricultural Supply and Demand Estimates.
Live Cattle futures closed an average of 74¢ lower (37¢ to $1.00 lower).
Feeder Cattle futures closed an average of $1.40 lower, from 45¢ lower in spot Oct to $1.75 lower at the back.
Choice boxed beef cutout value was 88¢ lower Thursday afternoon at $216.00/cwt. Select was $2.48 lower at $203.10.
Corn futures closed mostly 2¢ lower.
Soybean futures closed mostly 3¢ and 6¢ lower.