Cattle futures closed narrowly mixed Thursday, retaining most of the previous strong gains, supported by stronger cash fed cattle prices and aggressive slaughter.
Feeder Cattle futures closed 12¢ and 38¢ higher in the front two contracts and then an average of 45¢ lower.
Live Cattle futures closed mixed, from 33¢ lower 28¢ higher.
Negotiated cash fed cattle trade ranged from limited on light demand to mostly inactive on very light demand 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 Texas Panhandle at $136/cwt., $3 higher in Nebraska at $142-$143 and $2 higher in the western Corn Belt at $142-$143. Dressed prices are $3-$4 higher at $225-$226.
Choice Boxed beef cutout value was 64¢ lower through Thursday afternoon at $271.10/cwt. Select was 20¢ higher at $249.61
Corn futures closed narrowly mixed, mostly 1¢ lower to up 3¢ higher.
Soybean futures closed 11¢ to 29¢ higher through Jan ‘23. And then mainly 1¢ to 3¢ higher.
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