Cattle futures were higher Wednesday, helped along by firmer outside markets.
Toward the close, Live Cattle futures closed an average of 89¢ higher. Feeder Cattle futures closed an average of 73¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand in Kansas to a standstill elsewhere through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $208-$210/cwt. in the Texas Panhandle, $210 in Kansas, $212-$214 in Nebraska and $212 in the western Corn Belt. Dressed delivered prices were $332-$340 in Nebraska and $335 in the western Corn Belt.
Choice boxed beef cutout value was 24¢ higher Wednesday afternoon at $331.97/cwt. Select was $3.13 lower at $314.52.
Grain and Soybean futures were mixed Wednesday.
Toward the close and through Sep ’25 contracts, Corn futures were 3¢ to 4¢ lower. Kansas City Wheat futures were 7¢ to 8¢ lower. Soybean futures were 2¢ to 6¢ higher.
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Major U.S. financial indices extended gains Wednesday as the White House rhetoric toward the Federal Reserve cooled.
The Dow Jones Industrial Average closed 419 points higher. The S&P 500 closed 88 points higher. The NASDAQ was up 407 points.
Through midafternoon, West Texas Intermediate Crude Oil futures (CME) were $1.01 to $1.40 lower through the front six contracts.