Cattle futures edged lower Thursday, amid light trade and likely positioning ahead of the holiday weekend — the CME is closed Friday in observance of Good Friday.
Live Cattle futures closed an average of 18¢ lower, except for 5¢ higher in the spot month and unchanged in Dec.
Feeder Cattle futures closed an average of 26¢ lower.
Corn futures closed 1¢ to 6¢ higher in the front three contracts and then fractionally lower to 3¢ higher.
Soybean futures closed mixed, mostly 4¢ lower to 1¢ higher, except for 6¢ higher and fractionally higher in the front two contracts.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
So far this week, live prices are $1 higher in the Southern Plains at $139/cwt., $2 higher in Nebraska at $140-$142, $3 higher in the western Corn Belt at $143 (a few up too $145) and $2-$4 higher in Colorado at $140-$142.
Dressed prices are $4 higher at $226; a few up to $231.
Choice Boxed beef cutout value was 50¢ lower Thursday afternoon at $271.86/cwt. Select was 34¢ lower at $259.71.
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