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

FOB live prices were $3-$8 higher in Kansas at $233-$238/cwt.

Although too few to trend, there were some FOB live trades in the Texas Panhandle at $234-$235. Established trade the previous day of $235 was $3 higher than last week.

Last week, FOB live prices were $24-$244 in Nebraska and $240-$242 in the western Corn Belt. Dressed delivered prices were $380.

Choice boxed beef cutout value was $1.96 higher Thursday afternoon at $376.72. Select was $2.32 higher at $363.07.

Cattle futures basically hovered Thursday with traders waiting for further cash direction from trade in the North.

Toward the close, Live cattle futures were an average of 38¢ lower, except for 43¢ higher in spot Jun. Feeder Cattle futures were an average of 34¢ lower, except for 10¢ higher in spot Aug.

Turning to the grain complex, futures were mixed Thursday, with little impetus from the World Agricultural Supply and Demand Estimates (see below).

Toward the close and through Mar ‘26 contracts, Corn futures were fractionally higher to 1¢ higher, perhaps receiving support from slightly snugger ending stocks projected in the latest WASDE. Kansas City Wheat futures were 2¢ to 4¢ lower. Soybean futures were 1¢ to 7¢ lower.