Cattle futures continued to gain Thursday with thoughts cash fed cattle prices could firm or gain this week.
Toward the close, Live Cattle futures were an average of 1.24 higher, except for unchanged in spot Dec. Feeder Cattle futures were an average of $4.04 higher.
Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
FOB live prices last week were $218/cwt. in the South Central region, mostly $216-$218 in Nebraska and $210-$218 in the western Corn Belt. Dressed delivered prices were $330-$340 in Nebraska and mostly $340 in the western Corn Belt.
Choice boxed beef cutout value was $2.67 lower Thursday afternoon at $357.59/cwt. Select was $1.24 higher at $348.71.
Grain and Soybean futures were lower Thursday with pressure including the rising U.S. dollar.
Through late afternoon, and through the front four contracts, Corn futures were mostly 5¢ to 6¢ lower. Soybean futures were 2¢ (spot) to 14¢ lower. Kansas City HRW Wheat futures were mostly 17¢ to 20¢ lower.
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