Cattle futures were higher Thursday, supported by the week’s stronger cash fed cattle trade and perhaps some positioning ahead of Friday’s Cattle on Feed report. Pre-report estimates peg April placements and marketings about 3% lower year over year, with the May 1 inventory of cattle on feed down about 1.5%.

Live cattle futures were an average of $1.65 higher. Feeder Cattle futures were an average of $3.05 higher, except for 90¢ lower in waning May.

Negotiated cash fed cattle prices ranged from inactive on moderate demand in the Texas Panhandle to limited on good demand elsewhere through Thursday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.

So far this week, FOB live prices are $1-$2 higher in the North at $230-$231/cwt., in Nebraska and $230 in the western Corn Belt. Dressed delivered prices are mostly $2 higher in Nebraska at mainly $360 with some up to $370. Dressed delivered prices are $2-$7 higher in the western Corn Belt at $360-$365.

Last week, FOB live prices were mostly $220 in the Southern Plains.

Choice boxed beef cutout value was $1.38 higher Thursday afternoon at $360.97/cwt. Select was 67¢ higher at $348.95.

Grain and Soybean futures took a bit of a breather from recent gains on Thursday.

Toward the close and through Mar ‘26 contracts, Corn futures were mostly 1¢ to 2¢ lower. Kansas City Wheat futures were fractionally lower to 1¢ higher. Soybean futures were 1¢ to 5¢ higher.