Cattle futures rebounded from the early-week sell-down on Thursday, supported by stronger negotiated cash fed cattle prices and higher post-holiday wholesale beef values. Lower Corn futures added support.
Toward the close, Live cattle futures were an average of $1.82 higher ($1.50 to $2.17 higher). Feeder Cattle futures were an average of $4.10 higher.
Negotiated cash fed cattle trade was light to moderate on good demand in the Southern Plains through Thursday afternoon, according to the Agricultural Marketing Service. FOB live prices were $222/cwt., which was $2 higher in the Texas Panhandle and $2-$3 higher in Kansas.
Trade was limited on good demand in the North with too few transactions to trend. However, private sources suggested higher prices than last week were in play. Last week, FOB live prices were $230-$231 in Nebraska, where dressed delivered prices were $360-$367. Prices in the western Corn Belt last week were $229-$231 and $360-$365, respectively.
Choice boxed beef cutout value was 67¢ higher Thursday afternoon at $366.09/cwt. Select was $1.90 higher at $353.64.
Grain and Soybean futures were mixed Thursday.
Toward the close and through Mar ‘26 contracts, Corn futures were 2¢ to 4¢ lower with apparent continued fund selling. Kansas City Wheat futures were 6¢ to 7¢ higher on likely short covering. Soybean futures were 1¢ lower to 2¢ higher.
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