Cattle futures continued to climb Thursday supported by fundamental strength and increasing odds of steady to higher cash fed cattle trade this week.
Toward the close, Live Cattle futures were an average of $1.75 higher. Feeder Cattle futures were an average of $5.19 higher.
Negotiated cash fed cattle trade was inactive on light to moderate demand in all major cattle regions through Thursday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were mostly $233/cwt. in the Southern Plains, and $230 in the North. Dressed delivered prices were $360.
Choice boxed beef cutout value was 94¢ lower Thursday afternoon at $365.22/cwt. Select was 91¢ lower at $344.33.
Grain and Soybean futures were lower Thursday, continuing the sideways back and forth with no USDA data — due to the government shutdown — such as the monthly World Agricultural Supply and Demand Estimates, to offer direction.
Toward the close and through Jly contracts, Corn futures were 2¢ to 3¢ lower. KC HRW Wheat were 2¢ to 3¢ lower. Soybean futures were 4¢ to 7¢ lower.
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