Cattle futures traded both sides Thursday but ended lower, with traders apparently awaiting this week’s negotiated cash fed direction.
Toward the close, Live Cattle futures were an average of $1.00 lower. Feeder Cattle futures were an average of $1.25 lower.
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.
Last week, FOB live prices were $260/cwt. in the Texas Panhandle, $259-$260 in Kansas, $258-$265 in Nebraska and mostly $260 in the western Corn Belt. Dressed delivered prices were $408-$410 in Nebraska and mostly $410 in the western Corn Belt.
Choice boxed beef cutout value was $2.40 lower Thursday afternoon at $392.32/cwt. Select was $3.71 lower at $385.58.
Corn and Soybean futures followed Crude Oil prices higher on Thursday.
Toward the close, and through near Mar contracts, Corn futures were 3¢ to 5¢ higher. Soybean futures were 10¢ to 14¢ higher. Kansas City HRW Wheat futures were 3¢ to 4¢ lower.
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Major U.S. financial indices continued higher Thursday, led by tech stocks.
The Dow Jones Industrial Average closed 24 points higher. The S&P 500 closed 43 points higher. The NASDAQ was up 242 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 9¢ to $1.24 higher through the front six contracts.
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Rural economic conditions declined last month, according to Creighton University’s Rural Main Street Index (RMI). It declined 2.2 points from April to 45.7 in May, dropping below growth neutral for the fourth straight month. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.
“Weakness in farm commodity prices and elevated agriculture input costs are spilling over into the rural business community,” says Ernie Goss, the Jack A. MacAllister Chair in Regional Economics at Creighton University’s Heider College of Business. “Approximately, 47.8% of bankers reported that the financial position of farmers in their area had deteriorated in 2026 from 2025.”
Rural bankers remain pessimistic about economic growth for their area over the next six months. The May economic confidence index slumped to 34.8 from 39.1 in April.“The war in Iran has added volatility to an already-pressured agricultural sector, with rising input costs squeezing farmer operating margins, dampening equipment sales and reshaping planting decisions heading into the season,” Goss says.