Steady to higher cash prices helped lift Live Cattle futures an average of 64¢ higher (22¢ to $1.27 higher) on Thursday.
Negotiated cash fed cattle trade was slow on light demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. So far this week, live prices are $1 higher at $142/cwt.
Trade was slow on moderate demand in Nebraska with live prices steady to $1 higher at $143. Dressed prices are steady to $1 higher at $226-$227.
In the western Corn Belt, trade was limited on light demand. So far this week, live prices are steady to $2 lower at $143-$144. Dressed prices last week were $225-$230.
Choice Boxed beef cutout value was $1.13 lower Thursday afternoon at $252.34/cwt. Select was 16¢ lower at $229.95/cwt.
Feeder Cattle futures wobbled Thursday with more strength through the back half of the board. They closed mixed, from an average of 34¢ lower to an average of 41¢ higher.
That was despite softer grain futures with Corn following wheat and closing 4¢ to 8¢ lower. Soybean futures closed mostly 3¢ lower through Jly ‘23 and then mostly 9¢ lower.
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