Cattle futures extended gains Thursday on bullish fundamentals and stronger outside markets.
Toward the close, Feeder Cattle futures were an average of 83¢ higher. Live Cattle futures were an average of 66¢ higher.
Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
So far this week, FOB live prices are steady in Kansas at $201/cwt.
Last week, FOB live prices were $201 in the Texas Panhandle, $203-$205 in Nebraska and $203-$206 in the western Corn Belt. Dressed delivered prices were $322 in Nebraska and $320-$322 in the western Corn Belt.
Choice boxed beef cutout value was $1.06 lower Thursday afternoon at $330.96/cwt. Select was 78¢ lower at $317.21.
Traders added some South American weather premium back into Corn and Soybean futures.
Toward the close and through Sep ’25 contracts, Corn futures were 4¢ to 5¢ higher. Kansas City Wheat futures were 4¢ lower. Soybean futures were 6¢ to 8¢ higher.
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Major U.S. financial indices closed higher again Thursday, supported by President Trump’s call for lower interest rates and lower oil prices.
The Dow Jones Industrial Average closed 408 points higher. The S&P 500 closed 32 points higher. The NASDAQ was up 44 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures on the CME were 54¢ to $1.16 lower through the front six contracts.