Cattle futures faded early pressure to make gains Thursday, supported by early negotiated cash fed cattle trade at steady money.

Toward the close, Live Cattle futures were an average of 81¢ higher. Feeder Cattle futures were an average of $1.56 higher.

Negotiated cash fed cattle trade was light to moderate on moderate to good demand in Nebraska through Thursday afternoon, according to the Agricultural Marketing Service. Dressed delivered prices were steady at mainly $372/cwt. Although too few to trend, early FOB live prices were mainly steady at $235.

Trade was limited on moderate demand in the western Corn Belt. There were too few transactions to trend, but there were some early FOB live trades at $235, which was mostly steady. Dressed delivered prices were $372 last week.

Trade was inactive on moderate demand in the Southern Plains. FOB live prices there last week were $235.

Choice boxed beef cutout value was $1.84 lower  Thursday afternoon at $389.85/cwt. Select was $3.83 lower at $391.66.

Grain and Soybean futures were mixed Thursday.

Toward the close, and through near Sep contracts, Kansas City HRW Wheat futures were 8¢ to 9¢ higher, as traders appeared to add weather premium. Corn futures were fractionally lower to 1¢ lower. Soybean futures were fractionally mixed to 1¢ lower.