Feeder Cattle futures closed an average of 95¢ higher Thursday, strengthened by lower Corn futures.
Grain futures softened with likely profit taking. Corn futures closed mostly 4¢ to 8¢ lower. Soybean futures closed mostly 16¢ to 25¢ lower.
Live Cattle futures closed an average of 19¢ higher, except for an average of 15¢ lower in the front three contracts.
Negotiated cash fed cattle trade was mostly inactive on light demand through Thursday afternoon, according to the Agricultural Marketing Service.
So far this week, live prices are steady to $1 higher in the Southern Plains at $142/cwt., generally steady to $1 lower in Nebraska at $145-$148 and $2 lower in the western Corn Belt at $146-$148. Dressed prices in Nebraska are $1-$2 lower at $232-$233. Dressed prices in the western Corn Belt last week were $234.
Choice Boxed beef cutout value was 71¢ higher Thursday afternoon at $263.54/cwt. Select was 8¢ lower at $237.54/cwt.
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