Negotiated cash fed cattle trade was slow on light demand in Nebraska through Thursday afternoon. Although there were too few transactions to trend, there was some live trade at $124-$125/cwt. and some in the beef at $198. The previous day, established trend was as $126 and $203, respectively.
Trade was limited on light demand in Kansas with a few live sales steady with the previous day at $123.
Trade was limited on light demand in the western Corn Belt. Live prices the previous day were at $124-$125; $203 dressed.
Trade was at a standstill in the Texas Panhandle. Live prices the previous day were at $123-$124.
Cattle futures offered hope again early in yesterday’s session but closed lower yet again, except for front-month Live Cattle.
Feeder Cattle futures closed an average of 69¢ lower (2¢ lower toward the front to $1.28 lower at the back).
Live Cattle futures closed an average of 51¢ lower, except for 2¢ to 65¢ higher in the front three contracts.
Choice boxed beef cutout value was $2.28 lower Thursday afternoon at $332.58/cwt. Select was $1.72 lower at $296.45.
Corn futures closed mostly 2¢ to 5¢ lower.
Soybean futures closed 7¢ to 12¢ lower with most of the pressure in new-crop contracts.