Negotiated cash fed cattle trade opened higher on Thursday, with live prices in the Texas Panhandle $3 higher than the previous week at $106/cwt.
Cash optimism helped Cattle futures fade some early pressure and edge higher, although trade was sluggish and open interest continued to decline.
Live Cattle futures closed an average of 33¢ higher.
Feeder Cattle futures closed an average of 32¢ higher.
Wholesale beef values were lower on Choice and higher on Select, with light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 91¢ lower Thursday afternoon at $212.06/cwt. Select was $1.31 higher at $187.21.
Corn futures closed fractionally higher to 1¢ higher.
Except for 1¢ higher in the back three contracts, Soybean futures closed mostly 1¢ to 2¢ lower.