Cattle futures were higher once again Thursday, buoyed by stronger cash fed cattle prices.
Toward the close, Live Cattle futures were an average of $1.43 higher. Feeder Cattle futures were an average of $3.60 higher, except for 40¢ lower in the back contract.
Negotiated cash fed cattle trade was moderate on moderate to good demand in the North through Thursday afternoon, according to the Agricultural Marketing Service.
FOB live prices were $220/cwt. and dressed delivered prices were $340. That was $10 higher in Nebraska and $10-$12 higher in the western Corn Belt.
Elsewhere, trade was inactive on light demand.
Last week, FOB live prices were $215-$220 in the Texas Panhandle and mainly $220 in Kansas.
Choice boxed beef cutout value was $1.09 lower Thursday afternoon at $362.72/cwt. Select was $2.80 lower at $350.32.
Grain and Soybean futures were higher on Thursday.
Toward the close and through Jly contracts,
Corn futures were 2¢ to 5¢ higher, helped by ethanol production.
KC HRW Wheat futures were 4¢ to 8¢ higher, as traders added more risk premium for the Russia-Ukraine conflict.
Soybean futures were 2¢ to 4¢ higher.
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Major U.S. financial indices closed little changed on Thursday.
The Dow Jones Industrial Average closed 31 points lower. The S&P 500 closed 7 points higher. The NASDAQ was up 51 points.
Though mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 49¢ to 73¢ higher through the front six contracts.