Cattle futures eased higher Thursday.
Toward the close, Live Cattle futures were an average of $1.35 higher.
Feeder Cattle futures were an average of $1.51 higher (67¢ higher toward the back to $2.95 higher in spot Jan).
Negotiated cash fed cattle trade ranged from inactive on light demand in Kansas to light on moderate demand in the North through Thursday afternoon, according to the Agricultural Marketing Service.
Dressed delivered prices in Nebraska were $5 higher at $365/cwt. FOB live prices there last week were $232.
FOB live prices were mainly steady in the western Corn Belt at $232. Although too few to trend, there were some dressed delivered trades at $365; the price last week was $360.
Last week, FOB live prices were mostly $232/cwt. in Kansas.
Choice boxed beef cutout value was $2.51 higher Thursday afternoon at $356.79/cwt. Select was $2.78 higher at $352.06.
Grain and Soybean futures were softer Thursday with likely positioning ahead of next Monday’s World Agricultural Supply and Demand Estimates.
Toward the close, through near Sep contracts, Soybean futures were 3¢ to 5¢ lower. Corn futures were fractionally higher to 1¢ lower. KC HRW Wheat futures were fractionally higher to 1¢ lower.
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Major U.S. financial indices were mixed Thursday with pressure from tech stocks.
The Dow Jones Industrial Average closed 270 points higher. The S&P 500 closed fractionally higher. The NASDAQ was down 104 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $2.31 to $2.70 higher through the front six contracts.