Cattle futures held their own on Thursday, despite sluggish negotiated cash fed cattle trade and a step lower in wholesale beef values.
Toward the close, Live Cattle futures were an average of 58¢ higher. Feeder Cattle futures were an average of $1.84 higher.
Negotiated cash fed cattle trade was moderate on good demand in the North through Thursday afternoon, according to the Agricultural Marketing Service.
FOB live prices were mainly $2 lower in Nebraska at mostly $220/cwt. and mostly steady to $2 lower in the western Corn Belt at mainly $218-$222. Compared to last week, dressed delivered prices were steady to $5 lower in Nebraska at mostly $345 and steady to $5 higher in the western Corn Belt at mostly $350.
Choice boxed beef cutout value was $6.00 lower Thursday afternoon at $376.79/cwt. Select was $7.70 lower at $352.89.
Grain and Soybean futures were mixed on Thursday.
Through late afternoon, and through the front four contracts, Corn futures were unchanged to 1¢ higher. Kansas City HRW Wheat futures were 3¢ to 4¢ higher. Soybean futures were 8¢ to 9¢ lower.
******************************
Major U.S. financial indices edged higher Thursday helped by a pause in recently increasing Treasury yield rates.
The Dow Jones Industrial Average closed 20 points higher. The S&P 500 closed 14 points higher. The NASDAQ was up 10 points.
Through mid-afternoon, West Texas Intermediate crude oil futures (CME) were 78¢ to $2.73 higher through the front six contracts.