Cattle futures climbed higher Thursday, led by the surge in cash fed cattle prices. Live Cattle futures were an average of $2.15 higher. Feeder Cattle futures were an average of $4.78 higher.

Negotiated cash fed cattle trade ranged from moderate on moderate demand in Kansas to light to moderate on moderate demand in the North through Thursday afternoon, according to the Agricultural Marketing Service.

So far this week, based on the latest established trade, FOB live prices are $230/cwt., which is $5 higher in Kansas, $5-$10 higher in Nebraska, and $10 higher in the western Corn Belt. Dressed delivered prices in Nebraska are $10 higher at $350-$355.

Last week, dressed delivered prices in the western Corn Belt were $340-$345. The previous week, FOB live prices in the Texas Panhandle were $215-$220.

Choice boxed beef cutout value was $1.25 lower Thursday afternoon at $358.11/cwt. Select was $1.42 lower at $343.46.

Grain and Soybean futures were mixed on Thursday.

Corn futures were mostly fractionally higher to 2¢ higher. KC HRW Wheat futures were fractionally lower to 1¢ lower. Soybean futures were 1¢ to 3¢ higher.