Negotiated cash fed cattle trade remained undeveloped through Thursday afternoon, according to USDA reports. Although too few to trend, there were a few live trades reported at $100-$101/cwt. in Kansas, which was $1 higher than last week.
Cattle futures closed mostly narrowly higher as traders anticipated cash trade and Friday’s monthly Cattle on Feed report.
Except for an average of 45¢ lower in the front two contracts, Live Cattle futures closed an average of 35¢ higher.
Except for an average of 20¢ lower in May, Feeder Cattle futures closed an average of 49¢ higher, from 7¢ higher to $1.00 higher.
Wholesale beef values were steady on moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 7¢ lower Thursday afternoon at $218.17 cwt. Select was 19¢ higher at $192.16.
Corn futures closed fractionally higher to 1¢ higher.
Soybean futures closed 1¢ to 4¢ higher through Aug ’20 and then mostly 3¢- 6¢ lower.