Episode Details

Negotiated cash fed cattle trade was moderate on moderate demand in Nebraska through Thursday afternoon, according to the Agricultural Marketing Service. FOB live prices were $7-$8 lower at $248/cwt. and dressed delivered prices were $10 lower at $393.

Trade was limited on moderate demand in Kansas and the western Corn Belt. Although too few transactions to trend, there were some FOB live trades in Kansas at $247-$248 and at $248 in the western Corn Belt where early dressed delivered prices were $393.

Last week, FOB live prices were $255/cwt. in Kansas and mostly $255 in the western Corn Belt where dressed delivered prices were mostly $403.

Choice boxed beef cutout value was 39¢lower Thursday afternoon at $380.81/cwt. Select was 40¢ higher at $363.49.

Cattle futures lost ground Thursday, pressure by the decline in cash fed cattle prices and likely technical selling.

Toward the close, Live Cattle futures were an average of $2.25 lower. Feeder Cattle futures were an average of $5.09 lower.

Corn and Soybean futures were lower Thursday with follow-through selling pressure and positioning ahead of Friday’s World Agricultural Supply and Demand Estimates.

Toward the close and through near Mar contracts, Corn futures were mostly 4¢ to 5¢ lower. Soybean futures were mostly 9¢ to 16¢ lower. Kansas City HRW Wheat futures were 8¢ to 9¢ higher with likely short covering.