Cattle futures closed higher Thursday, buoyed by stronger cash fed cattle prices.

Live Cattle futures closed an average of $1.11 higher.

Feeder Cattle futures closed an average of 84¢ higher (42¢ to $1.12 higher), except for unchanged in spot Mar.

Negotiated cash fed cattle trade in the Southern Plains through Thursday afternoon ranged from a standstill in the Texas Panhandle to slow on light to moderate demand in Kansas, according to the Agricultural Marketing Service. Although too few to trend, there were some early FOB live sales in Kansas at $186/cwt. Prices in the Southern Plains last week were $183.

Trade in the North ranged from slow on light to moderate demand in Nebraska to moderate on moderate demand in the western Corn Belt. FOB live prices were $1.50 to $2.00 higher in Nebraska at $185-$186 and $2 higher in the western Corn belt at $185-$186. Dressed delivered prices in both regions were $290 last week.

Choice boxed beef cutout value was $1.70 higher through Thursday afternoon at $306.61/cwt. Select was $1.17 higher at $296.26/cwt.

Grain and Soybean futures closed higher Thursday with apparent technical support and perhaps positioning ahead of Friday’s monthly World Agricultural Supply and Demand Estimates.

Corn futures closed 7¢ to 9¢ higher through May ’25 and then mostly 4¢ to 6¢ higher.

KC HRW Wheat futures closed 10¢ to 18¢ higher.

Soybean futures closed 11¢ to 18¢ higher through Jan ’25 and then 6¢ to 7¢ higher.