Negotiated cash fed cattle trade was mostly inactive on light demand through Thursday afternoon, with too few transactions to trend in any region, according to the Agricultural Marketing Service.
So far this week, live prices are $1 lower in the Southern Plains at $163/cwt., steady to $1 higher in Nebraska at $164-$165 and steady to $2 higher in the western Corn Belt at $164-$166. Dressed prices are $1 higher at $265.
Choice boxed beef cutout value was $1.48 higher Thursday afternoon at $282.78/cwt. Select was 93¢ lower at $268.89/cwt.
Net U.S. beef export sales gained ground for the week ending Mar. 16, according to the U.S. Export Sales report. Net sales of 18,600 metric tons (mt) were 5% more than the previous week and 59% more than the prior four-week average. Increases primarily were for South Korea, Japan, China, Taiwan and Hong Kong.
Cattle futures wavered in their range-bound path Thursday.
Feeder Cattle futures closed mixed, from an average of 21¢ lower in three contracts to an average of 33¢ higher.
Live Cattle futures closed an average of 26¢ lower, except for an average of 7¢ higher in the back two contracts.
Corn futures closed mostly 1¢ to 2¢ lower through Jly ‘24 and then mostly 1¢ higher.
KC HRW Wheat closed 4¢ to 8¢ higher through May ’24 and then mostly 1¢ higher.
Soybean futures closed 9¢ to 29¢ lower.
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