Cattle futures firmed and mostly gained Wednesday, supported by oversold conditions.
Toward the close, Live Cattle futures were an average of 46¢ higher, except for an average of 42¢ lower in two contracts. Feeder Cattle futures were an average of $2.11 higher, except for an average of 94¢ lower in the front two contracts.
Negotiated cash fed cattle trade was light on moderate demand in the North through Wednesday afternoon, according to the Agricultural Marketing Service. FOB live prices were mostly $22o/cwt., which was $2 higher than a day earlier, but $7-$8 lower than last week. Dressed delivered prices so far this week are mostly $345, which is $10-$11 lower.
Choice boxed beef cutout value was $3.40 lower Wednesday afternoon at $385.13/cwt. Select was $6.30 lower at $362.68.
Grain and Soybean futures closed higher on Wednesday.
Toward the close and through the front four contracts, Corn futures were 10¢ to 13¢ higher through Dec ’27 on yield concerns.
Soybean futures were 20¢ to 23¢ higher through Mar ’28, helped along by more Chinese purchases.
Kansas City HRW Wheat were 21¢ to 38¢ higher through Dec ’27 with more premium, added for the Ukraine-Russia war and its impact on exports through the Black Sea.
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