Grain and Soybean futures closed lower Thursday, apparently due in part to more money flowing into equities for the day.
Corn futures closed 6¢ to 11¢ lower through Jly ‘24. Soybean futures closed mostly 20¢ to 29¢ lower.
Softer grain futures helped boost Cattle futures.
Feeder Cattle futures closed an average of $1.52 higher (90¢ to $2.05 higher).
Live Cattle futures closed an average of 90¢ higher (70¢ to $1.50 higher).
Cattle futures were lower through mid-day today as grain futures trended higher.
Negotiated cash fed cattle trade and demand were slow through Thursday afternoon, according to the Agricultural Marketing Service.
Although too few to trend, there were some live sales at $149/cwt. in the Texas Panhandle, $153.00-$153.50 in Nebraska and $153-$154 in the western Corn Belt.
So far this week, live prices are steady in the Southern Plains at $150, steady in Nebraska at $153 and steady to $1 higher in the western Corn Belt at $153. Dressed prices are steady to $2 higher at $242.
Choice Boxed beef cutout value (p.m.): $1.40 lower at $263.27/cwt. Select was $1.61 higher at $236.83/cwt.
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