Negotiated cash fed cattle trade remained undeveloped through late Thursday afternoon. There was some light trade on light to moderate demand in the western Corn Belt. Though too few transactions to trend, early live sales were $1 higher than last week’s low price in the region at $107.00-$108.50/cwt. Early dressed sales were steady to $2 higher at $170.
Limited trade and pressure on wholesale beef values helped hold Cattle futures in check Thursday, narrowly mixed and range-bound.
Other than 15¢ and 2¢ lower in the front two contracts, Live Cattle futures closed unchanged to 20¢ higher.
Other than unchanged and 5¢ higher in the front two contracts, Feeder Cattle futures closed 15¢ to 32¢ lower.
Wholesale beef values were weak to lower on light demand and moderate to heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.65 lower Thursday afternoon at $208.75/cwt. Select was $3.08 lower at $197.83.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More