Cattle futures lost ground Wednesday with pressure including lower early negotiated cash fed cattle prices and surging corn prices.
Toward the close, Live Cattle futures were an average of $2.13 lower, except for 5¢ higher and unchanged at the back.
Feeder Cattle futures were an average of $4.64 lower.
Negotiated cash fed cattle trade was limited on moderate demand in the North through Wednesday afternoon, according to the Agricultural Marketing Service.
Although too few transactions to trend, there were some early dressed trades in Nebraska at $355-$360/cwt. Also, too few to trend, there were some early dressed trades in the western Corn Belt at $355-$356 and some FOB live trades at $225.
Last week, FOB live prices were $228 in Kansas, $225-$230 in Nebraska and $228-$230 in the western Corn Belt. Dressed delivered prices were $362-$368.
Choice boxed beef cutout value was $3.84 higher Wednesday afternoon at $394.99/cwt. Select was $2.12 lower at $364.17. This Choice-Select spread was the widest since December 2024.
Grain and Soybean futures were higher Wednesday, supported by lower corn and yield estimated by private-firm crop tours.
Toward the close and through the front four contracts, Corn futures were 9¢ to 10¢ higher. Soybean futures were 16¢ to 20¢ higher. Kansas City HRW Wheat were 15¢ to 16¢ higher.
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