Episode Details

Cattle futures strengthened on Thursday, supported by stronger cash feeder cattle prices and thoughts that negotiated cash fed cattle prices could follow suit.

Toward the close, Live Cattle futures were an average of 84¢ higher, except for unchanged in two contracts.

Feeder Cattle futures were an average of $1.74 higher.

Negotiated cash fed cattle ranged from mostly inactive on light demand in Nebraska to mostly inactive on moderate demand in the western Corn Belt through Thursday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $218-$223/cwt. in Nebraska and $218-$220/cwt. in the western Corn Belt. Dressed delivered prices were mainly $345.

Choice boxed beef cutout value was $2.40 lower Thursday afternoon at $378.37/cwt. Select was 28¢ lower at $352.06.

Grain and Soybean futures pushed higher on Thursday, led by Soybeans and likely supported by some inflationary hedging, as traders prepared for Friday’s World Agricultural Supply and Demand Estimates.

Through late afternoon, Soybean futures were 20¢ to 23¢ higher, buoyed by new Chinese purchases. Corn futures were 5¢ higher. Kansas City HRW Wheat futures were 11¢ to 12¢ higher.