Negotiated cash fed trade ranged from slow to moderate on moderate demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. Prices so far this week are $1 higher at $143/cwt.
Elsewhere, trade was moderate on moderate to good demand.
Dressed trade in Nebraska was $2-$5 higher at $228-$232. Live prices there last week were $143.
In the western Corn Belt, live prices this week are steady to $1 higher at $144-$145 and $2 higher in the beef at $228
Even so, Cattle futures continued to weaken Thursday with pressure from struggling outside markets and likely positioning ahead of Friday’s Cattle on Feed report. Pre-report estimates expect placement to be down 1% or so compared to last year and on-feed numbers to be about even.
Feeder Cattle futures closed an average of $1.41 lower, except for 2¢ higher in spot Sep.
Live Cattle futures closed an average of 85¢ lower (30¢ to $1.40 lower).
Cattle futures are weaker again through noon today.
Corn and Soybean futures paddled in place Thursday with ongoing pressure from lower outside markets and the higher U.S. dollar, but also speculation about lower yields.
Corn futures closed mostly fractionally higher to 2¢ higher.
Soybean futures closed 2¢ to 4¢ lower through Jly ‘23 and then mostly fractionally mixed.