Cattle futures continued to gain Wednesday with prospects for record-high cash fed cattle prices increasing again this week.
Feeder Cattle futures closed an average of $1.26 higher (12¢ to $1.80 higher).
Live Cattle futures closed an average of 78¢ higher (37¢ to $1.97 higher).
Choice boxed beef cutout value was $3.38 higher Wednesday afternoon at $298.48/cwt. Select was 23¢ lower at $281.81/cwt
Negotiated cash fed cattle trade ranged from limited on light demand to mostly a standstill through Wednesday afternoon. Although too few to trend, there were some early live sales in the western Corn Belt at $181/cwt.
Last week, live prices were $170/cwt. in the Southern Plains and $174-$177 in Nebraska and the western Corn Belt. Dressed prices were $275-$280.
Corn futures closed mostly 1¢ to 3¢ lower.
KC HRW Wheat closed mostly 2¢ to 3¢ lower.
Soybean futures closed mostly 3¢ to 9¢ lower, except for nearby contracts.
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