Negotiated cash fed cattle prices perked up another $1-$3 on Thursday with light to moderate trade and demand, according to the Agricultural Marketing Service.
Live prices were $1 higher in the Southern Plains at $132/cwt., $1-$2 higher in Nebraska at $133-$134 and $1-$3 higher in the western Corn Belt at $133. Dressed trade was $3 higher at $210. Live prices in Colorado last week were at $132.
Stronger cash prices helped push Cattle futures higher.
Feeder Cattle futures closed an average of $1.90 higher, except for 15¢ lower in nearly spent Nov.
Live Cattle futures closed an average of 70¢ higher.
Lower grain futures prices added support.
Corn futures closed narrowly mixed, from 2¢ lower to 1¢ higher.
Soybean futures closed mostly 11¢ to 15¢ lower.
Wholesale beef prices continued to drift lower. Choice boxed beef cutout value was $3.66 lower Thursday afternoon at $278.47/cwt. Select was $2.53 lower at $264.06/cwt.
Net U.S. beef export sales of 25,500 metric tons (2021) for the week ending Nov. 11 were 23% more than the previous week and 58% more than the prior four-week average, according to the U.S. Export Sales report. Increases were primarily for China, Taiwan, Japan, South Korea, and Mexico.