Cash fed cattle trade remained undeveloped through Thursday afternoon.
Cattle futures drifted higher amid sluggish trade, higher outside markets and help from Lean Hogs at the end of the session.
Live Cattle futures closed an average of 45¢ higher, except for 15¢ lower in the back two contracts.
Feeder Cattle futures closed an average of 48¢ higher.
Wholesale beef values were firm on Choice and weak on Select with moderate demand and light to moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 39¢ higher Thursday afternoon at $216.88/cwt. Select was 34¢ lower at $192.37.
Grain futures were higher, especially soybeans, buoyed by dry weather forecast in the Corn Belt and likely positioning ahead of Monday’s government reports that will provide updates to planted acres.
Corn futures closed mostly 2¢ to 4¢ higher.
Soybean futures closed 12¢ to 16¢ higher.