Cattle futures crawled higher Wednesday with follow-through support.
Toward the close, Live Cattle futures were an average of 29¢ higher, except for unchanged and 40¢ lower in the front two contracts. Feeder Cattle futures were an average of 94¢ higher, except for 2¢ lower in Aug.
Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.
FOB live prices last week were $218/cwt. in the South Central region, mostly $216-$218 in Nebraska and $210-$218 in the western Corn Belt. Dressed delivered prices were $330-$340 in Nebraska and mostly $340 in the western Corn Belt.
Choice boxed beef cutout value was $2.72 lower Wednesday afternoon at $360.26/cwt. Select was $4.15 lower at $347.47.
Grain and Soybean futures were mixed on Wednesday.
Through late afternoon, and through the front four contracts, Corn futures were fractionally lower to 1¢ lower with likely profit taking. Soybean futures were 2¢ to 5¢ higher. Kansas City HRW Wheat futures were 5¢ to 8¢ higher.
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