Episode Details

Cattle futures finally bounced higher Thursday, supported by oversold conditions and some renewed strength in cash prices.

Toward the close, Live Cattle futures were an average of $3.32 higher. Feeder Cattle futures were an average of $6.50 higher.  

Negotiated cash fed cattle was light on light demand in Nebraska and the western Corn Belt through Thursday afternoon, according to the Agricultural Marketing Service. So far this week, FOB live prices are $218/cwt. and dressed delivered prices are $345. There is no established trade in the Southern Plains.

Choice boxed beef cutout value was $1.88 lower Thursday afternoon at $376.90/cwt. Select was $2.86 lower at $350.72.

Corn and Kansas City Wheat futures were lower on Thursday with likely profit taking and positioning ahead of the three-day weekend.

Toward the close and through the front four contracts, Corn futures were 3¢ to 4¢ lower. Kansas City HRW Wheat futures were 11¢ to 22¢ lower. However, Soybean futures were 1¢ lower to 5¢ higher, supported by export sales.