The cattle complex was mixed on Thursday, though live cattle were able to push higher amid ongoing strength in beef prices. June live cattle traded $1.30 higher to close at $229.37 per cwt. Prices had dropped lower yesterday to fill Tuesday morning’s gap. Prices have been under pressure this week amid the ongoing conflict between the U.S. and Iran.

High fuel prices could dig into consumers’ budgets and reduce demand for some meat ahead of the spring grilling season. Still, boxed beef prices have been pushing higher over the past few weeks. The choice cutout index climbed to $398 this week, the highest since early September.

Strong demand and tighter domestic supplies have been supportive for the cattle market. Near-term pressure could continue to come from a weaker stock market.

Feeder cattle futures have experienced more pressure compared to live cattle. May feeders traded 30 cents lower on Thursday to close at $343 per cwt, the lowest close since Dec. 30.

Cash prices struggled to support futures. The CME Feeder Cattle Index fell for two straight weeks. Buyers have been more cautious with the volatility in futures.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.