Cattle futures closed lower Thursday with likely profit taking ahead of the long weekend.
Toward the close, Live cattle futures were an average of $2.03 lower. Feeder Cattle futures were an average of $2.87 lower, except for 55¢ higher in expiring Aug.
Negotiated cash fed cattle trade was moderate on moderate demand in Kansas through Thursday afternoon, according to the Agricultural Marketing Service. FOB live prices were $2 higher at $242/cwt.
Elsewhere, trade was mostly inactive on moderate demand. Last week, FOB live prices were $240 in the Texas Panhandle and $245 in the North. Dressed delivered prices were $385-$392 in Nebraska and $385-$390 in the western Corn Belt on a light test.
Choice boxed beef cutout value was $2.57 higher Thursday afternoon at $414.41. Select was $1.87 lower at $385.84.
Weekly net U.S. beef sales for 2025 the week ending Aug. 21 of 13,600 metric tons were 34% more than the previous week and 40% more than the prior four-week average. Increases were primarily for Japan, South Korea, Hong Kong, Mexico and Taiwan.
Grain and Soybean futures strengthened Thursday on likely month-end short covering.
Toward the close and through away Jly contracts, Corn futures were 4¢ to 5¢ higher. Kansas City Wheat futures were 2¢ to 3¢ higher. Soybean futures fractionally mixed to 2¢ higher.
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Major U.S. financial indices closed higher Thursday with support including strong quarterly corporate earnings from artificial intelligence computing giant, Nvidia, and more domestic economic growth in the second quarter than expected.
Real gross domestic product (GDP) increased at an annual rate of 3.3% in the second quarter of 2025, according to the second estimate released by the U.S. Bureau of Economic Analysis.
The Dow Jones Industrial Average closed 71 points higher. The S&P 500 closed 20 points higher. The NASDAQ was up 115 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 15¢ to 20¢ higher through the front six contracts.