Negotiated cash fed cattle trade was moderate on moderate demand through Thursday afternoon in the Southern Plains and Nebraska. Live prices were steady to $1 lower in the Texas Panhandle at $137/cwt., mostly $1 lower in Kansas at $137 and $1-$2 lower in Nebraska at $144-$149, where dressed prices were $2 lower at $232.
Trade was limited on light to moderate demand in the western Corn Belt. Live prices the previous day were $150 — the top of last week’s range — and dressed prices were steady at $234.
Choice Boxed beef cutout value was 2¢ higher Thursday afternoon at $268.07/cwt. Select was 35¢ lower at $242.58.
Stronger grain futures pressured Feeder Cattle Thursday, while firmer beef values helped Live Cattle stay the course.
Feeder Cattle futures closed an average of 82¢ lower (42¢ to $1.05 lower).
Live Cattle futures closed an average of 18¢ higher, except for 10¢ lower in near Oct.
Grain and Soybean futures rallied back Thursday on oversold conditions and supportive outside markets.
Corn futures closed mostly 9¢ to 11¢ higher through Jly ‘23 and then mostly 2¢ to 5¢ higher.
Soybean futures closed mostly 38¢ to 43¢ higher through Jly ‘23 and then mostly 12¢ to 20¢ higher.
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