Cattle futures crawled higher Thursday.
Toward the close, Live Cattle futures were an average of 49¢ higher, except for 5¢ lower in near Dec. Feeder Cattle futures were an average of 66¢ higher.
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 $258-$260/cwt. in the Southern Plains and mostly $260 in the North. Dressed delivered prices were mostly $408 in Nebraska and $405 in the western Corn Belt on a light test.
Choice boxed beef cutout value was $2.62 lower Thursday afternoon at $396.32/cwt. Select was $3.40 lower at $374.74.
Grain and Soybean futures were higher Thursday with likely technical buying and added weather premium.
Toward the close, and through near Mar contracts, Corn futures were mostly 7¢ to 8¢ higher. Soybean futures were 19¢ to 22¢ higher. Kansas City HRW Wheat futures were 2¢ to 4¢ higher.
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