Thursday was a banner day for cash fed cattle with active trade and very good demand in all major cattle feeding regions, according to the Agricultural Marketing Service.
Compared to the previous week, FOB live prices were mostly $9 higher in the Texas Panhandle at $232/cwt., $10 higher in Kansas at $232 with some up to $235, $4-$5 higher in Nebraska at $240-$241 and $3-$10 higher in the western Corn Belt at mostly $240. Dressed delivered prices were $10-$15 higher in Nebraska at $380 and $9 higher in the western Corn Belt at $380.
Cattle futures followed surging cash prices higher.
Live cattle futures closed an average of $2.69 higher ($1.30 higher at the back to $4.50 higher at the front).
Feeder Cattle futures closed an average of $3.91 higher ($2.50 higher at the back to $5.27 higher at the front).
Cattle futures were trading higher again Friday, after earlier mixed trade.
Choice boxed beef cutout value was $1.69 higher Thursday afternoon at $366.85/cwt. Select was 11¢ lower at $356.61.
Turning to the grain complex, Grain and Soybean futures were higher Thursday.
Corn futures closed mostly 2¢ to 4¢ higher. Kansas City Wheat futures closed mostly 2¢ to 3¢ higher. Soybean futures closed mostly 7¢ to 11¢ higher.
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