Cattle futures regained some ground Thursday. Toward the close, Live cattle futures were an average of $1.17 higher. Feeder Cattle futures were an average of $2.03 higher.
Negotiated cash fed cattle trade was moderate on moderate demand in Nebraska through Thursday afternoon, according to the Agricultural Marketing Service. So far this week, FOB live prices are $3-$4 lower at $238-$240/cwt. and dressed delivered prices are $8 lower at $375.
Elsewhere, trade was mostly inactive on moderate demand.
FOB live prices this week are mainly $2-$3 lower in the western Corn Belt at mostly $240. Dressed delivered prices in the region last week were $383.
Last week, FOB live prices were $242 in the Texas Panhandle and $242-$243 in Kansas.
Choice boxed beef cutout value was $4.85 lower Thursday afternoon at $400.79. Select was $3.73 lower at $379.95.
Grain and Soybean futures bounced back Thursday, ahead of Friday’s monthly World Agricultural Supply and Demand Estimates.
Toward the close and through away Jly contracts, Corn futures were mostly 2¢ to 3¢ higher. Kansas City Wheat futures were mostly 3¢ higher. Soybean futures were mostly 7¢ to 8¢ higher.
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