Cattle futures continued higher yet again Thursday, riding the same bullish fundamentals.
Toward the close, Live cattle futures were an average of $3.32 higher. Feeder Cattle futures were an average of $5.95 higher.
Negotiated cash fed cattle trade was mostly inactive on moderate demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $235/cwt. in the Texas Panhandle, $235-$236 in Kansas, $245-$247 in Nebraska and mostly $245 in the western Corn Belt. Dressed delivered prices were mostly $383.
Choice boxed beef cutout value was $4.08 higher Thursday afternoon at $379.94. Select was $2.39 higher at $353.75.
Grain and Soybean futures were higher Thursday, perhaps buoyed by some bottom picking.
Toward the close and through Jly contracts, Corn futures were 4¢ to 5¢ higher. Kansas City Wheat futures were 7¢ to 10¢ higher. Soybean futures were 8¢ to 10¢ higher.
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Major U.S. financial indices closed mixed Thursday, giving back early-session gains on likely profit taking and tariff confusion.
The Dow Jones Industrial Average closed 224 points lower. The S&P 500 closed 5 points lower. The NASDAQ was up 73 points.
Toward the close, West Texas Intermediate Crude Oil futures (CME) were 17¢ to 56¢ lower through the front six contracts.