Cattle futures continued higher yet again Thursday, riding the same bullish fundamentals.
Toward the close, Live cattle futures were an average of $3.32 higher. Feeder Cattle futures were an average of $5.95 higher.
Negotiated cash fed cattle trade was mostly inactive on moderate demand in all major cattle feeding regions through Thursday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $235/cwt. in the Texas Panhandle, $235-$236 in Kansas, $245-$247 in Nebraska and mostly $245 in the western Corn Belt. Dressed delivered prices were mostly $383.
Choice boxed beef cutout value was $4.08 higher Thursday afternoon at $379.94. Select was $2.39 higher at $353.75.
Grain and Soybean futures were higher Thursday, perhaps buoyed by some bottom picking.
Toward the close and through Jly contracts, Corn futures were 4¢ to 5¢ higher. Kansas City Wheat futures were 7¢ to 10¢ higher. Soybean futures were 8¢ to 10¢ higher.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More