Click edit button to change this text.
Cattle futures gained Thursday with higher cash fed cattle prices.
Heading into the close, Live Cattle futures closed an average 39¢ higher. Feeder Cattle futures were an average of 38¢ higher.
Negotiated cash fed cattle trade was moderate on moderate demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. FOB Live prices were $2 higher at $185/cwt.
Elsewhere, trade was slow on light demand with too few transactions to trend.
Last week, FOB live prices in the north were $184-$185 and dressed delivered prices were $290-$292.
Choice boxed beef cutout value was $1.80 lower Thursday afternoon at $296.37/cwt. Select was 91¢ lower at $282.37.
Grain and Soybean futures were lower Thursday with likely farmer selling.
Toward the close and through Sep ’25 contracts, Corn futures were 1¢ to 2¢ lower. Kansas City Wheat futures were fractionally lower to 2¢ lower. Soybean futures were 10¢ to 12¢ lower.
******************************
Major U.S. financial indices closed higher Thursday, supported by positive economic news including fewer initial weekly uninsurance claims than expected.
The Dow Jones Industrial Average closed 260 points higher. The S&P 500 closed 23 points higher. The NASDAQ was up 108 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures on the CME were 28¢ to 42¢ lower through the front six contracts.