Negotiated cash fed cattle trade declined another $2 in the Texas Panhandle on Thursday to $102/cwt., according to the Agricultural Marketing Service. For the week, across all regions, live sales are generally $2-$3 lower than last week at $102-$104. Dressed trade is $3-$5 lower at $162-$164.
Cattle futures were lower again Thursday, following cash prices and wholesale beef values. Outside markets also pressured.
Live Cattle futures closed an average of 54¢ lower.
Feeder Cattle futures closed an average of $1.06 lower, except for unchanged in the back contract.
Choice boxed beef cutout value was 34¢ lower Thursday afternoon at $227.24/cwt. Select was $1.32 lower at $212.50.
Actual total cattle slaughter for the week ending Aug. 22 of 650,018 head was 6,937 head more (+1.1%) than the previous week, but 6,402 head fewer than the same week a year earlier. The average dressed steer weight was 1 lb. heavier than the previous week at 910 lbs., which was 26 lbs. heavier than the prior year. The average dressed heifer weight of 833 lbs. was the same as a week earlier but 21 lbs. more than a year earlier. Beef production for the week of 542.5 million lbs. was 6.6 million lbs. more (+1.2%) than a year earlier.
Corn futures closed 3¢ to 5¢ lower through Jly ’21 and then mostly 1¢ lower.
Soybean futures closed mostly 3¢ to 6¢ higher.