Cattle futures took a step higher Thursday, helped along by the prospects of higher cash fed cattle prices and stronger wholesale beef values.

Before settlement, Feeder Cattle futures were an average of $3.26 higher. Live Cattle futures were an average of $1.96 higher.

Negotiated cash fed cattle trade ranged from limited on light demand in the western Corn Belt to a standstill through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.

However, there were reports of $200 live cash prices in the Southern Plains and more up North.

Last week, FOB live prices were $196-$197/cwt. in the Southern Plains and $200 in Nebraska and the western Corn. Dressed delivered prices were $315.

Choice boxed beef cutout value was $2.17 higher Thursday afternoon at $330.78/cwt. Select was $1.46 higher at $308.35.

Grain and Soybean futures were mixed Thursday between South American weather and positioning ahead of the monthly World Agricultural Supply and Demand Estimates and Grain Stocks report due out Friday.

Before settlement, Corn futures were 1¢ to 2¢ higher. Kansas City Wheat futures were 2¢ lower. Soybean futures were mostly 1¢ to 3¢ higher.