Feeder Cattle led Live Cattle futures higher Thursday, supported by renewed trader interest, recently oversold conditions and stronger outside markets.
Feeder Cattle futures closed an average of $3.93 higher.
Live Cattle futures closed an average of $1.43 higher.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $185/cwt. in the Southern Plains, $183-$186 in Nebraska and $183-$185 in the western Corn Belt. Dressed delivered prices were $290.
Choice boxed beef cutout value was $2.35 higher Thursday afternoon at $304.53/cwt. Select was $4.21 lower at $274.34/cwt.
Net U.S. beef export sales of 17,100 metric tons for 2023, for the week ending Oct. 26, were 2% less than the previous week, but 71% more than the prior four-week average. Increases were primarily for China, Japan, Taiwan, South Korea and Canada.
Corn futures closed 2¢ to 5¢ lower through Sep ‘24 and then mostly fractionally lower.
KC HRW Wheat closed mostly 2¢ higher.
Soybean futures closed 11¢ to 13¢ higher through Sep ‘24 and then 9¢ higher.