Manage episode 244603363 series 2283087
Negotiated cash fed cattle trade remained undeveloped through Thursday afternoon, based on USDA reports.
Cattle futures softened.
Other than 5¢ and 50¢ higher in the front two contracts, Live Cattle futures closed an average of 34¢ lower. That was despite reports that Cargill suspended some operations at its Dodge City facility, in the wake of an explosion in a stand alone building.
Feeder Cattle futures closed an average of $1.15 lower (85¢ to $1.60 lower). Pressure likely included early spillover pressure from Live Cattle, as well as higher front-month Corn futures.
Wholesale beef values were steady on Choice and higher on Select with moderate to good demand and moderate to heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 17¢ lower Thursday afternoon at $218.11/cwt. Select was $1.23 higher at $192.60.
Corn futures closed mostly 2¢ to 3¢ higher.
Soybean futures closed 1¢ to 3¢ higher through Aug ‘20 and then mostly fractionally mixed to 1¢ lower.