Beef futures began the session up slightly on spillover buying and stout wholesale beef demand, but soon encountered profit taking. Also, spot-April and nearby-June slipped beneath positive trading territory as traders awaited this week's cash developments.

A few prospective buyers were uneasy about front-months' overbought technical issues. And, August and October's run up to new contract highs Wednesday and early Thursday gave some in the pit a reason to sell.

Meanwhile, deferred cattle contracts traded unevenly after the opening bell due to modest electronic-CBOT corn firmness that later deteriorated. Also, concern about board premiums to cash ideas for this summer and autumn dampened buying enthusiasm.

However, the combination of rising boxed beef quotes and higher cash cattle prices landed spot-April on solid ground.

Source: FXSTREET