There were too few negotiated cash fed cattle transactions to trend in any major cattle feeding region through Thursday afternoon, according to the Agricultural Marketing Service. So far this week, amid anemic trade, live prices are $2 lower in Nebraska at $126/cwt. and $2-$3 lower in the western Corn Belt at $125-$126. Dressed trade in Nebraska is $2-$5 lower at $200-$203.
Choice boxed beef cutout value was 53¢ lower Thursday afternoon at $337.92/cwt. Select was $2.60 lower at $304.97.
Cattle futures continued to sag lower Thursday amid sluggish interest ahead of the long holiday weekend, declining wholesale beef values and the lackluster packing pace. Feeder Cattle led the charge lower.
Feeder Cattle futures closed an average of $2.42 lower ($1.65 to $3.00).
Live Cattle futures closed an average of $1.38 lower ($1.05 to $1.60).
Corn futures closed mostly 2¢ higher through new-crop contracts, then mostly 1¢ to 2¢ lower.
Soybean futures closed 1¢ to 5¢ higher through new-crop contracts, then mostly unchanged to fractionally higher.