Cattle futures sagged lower Thursday with the week’s wobbly cash fed cattle trade, sharply lower outside markets and likely positioning ahead of Friday’s monthly Cattle on Feed report.

Before settlement, Live Cattle futures were an average of $2.06 lower. Feeder Cattle futures were an average of $2.47 lower. 

Negotiated cash fed cattle trade ranged from slow on light to moderate demand in the North to mostly inactive on light demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service.

So far this week, live FOB prices are unevenly steady in the Southern Plains at $188/cwt. and dressed delivered trades are $2 lower in Nebraska at $310/cwt.

Last week, live FOB prices were mostly $198 in the North with dressed delivered prices at $312 in the western Corn Belt.

Choice boxed beef cutout value was $2.01 lower Thursday afternoon at $316.15/cwt. Select was $1.22 higher at $299.46/cwt.