Cattle futures eased higher Wednesday amid chatter that cash fed cattle prices could improve this week.
Toward the close, Live Cattle futures were an average of 91¢ higher. Feeder Cattle futures were an average of $2.17 higher.
Negotiated cash fed cattle trade was inactive on light demand in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $215-$220/cwt. in the Texas Panhandle, mainly $220 in Kansas, mostly $210 in Nebraska and mainly $208-$210 in the western Corn Belt. Dressed delivered prices were $330 in Nebraska and $328-$330 in the western Corn Belt.
Choice boxed beef cutout value was 91¢ lower Wednesday afternoon at $363.81/cwt. Select was $2.34 higher at $353.12.
Grain and Soybean futures were lower on Wednesday with likely profit taking.
Toward the close and through Jly contracts, Corn futures were mostly 6¢ to 7¢ lower. KC HRW Wheat futures were 3¢ lower. Soybean futures were 8¢ to 10¢ lower.
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Major U.S. financial indices closed higher Wednesday, with continued optimism about the Fed cutting interest rates this month. Some of the optimism came from the loss of jobs indicated in the November ADP National Employment Report®. According to the report, private sector employment shed 32,000 jobs in November and pay was up 4.4% year over year.
“Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment,” says Nela Richardson, ADP chief economist. “And while November’s slowdown was broad-based, it was led by a pullback among small businesses.”
November hiring was particularly weak in manufacturing, professional and business services, information, and construction, according to ADP.
The Dow Jones Industrial Average closed 408 points higher. The S&P 500 closed 20 points higher. The NASDAQ was up 40 points.
Though mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 32¢ to 47¢ higher through the front six contracts.
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Taking stock of global economic health, the latest Organisation for Economic Co-operation and Development (OECD) Economic Outlook suggests the global economy remained resilient this year in the face of trade uncertainty, although underlying fragilities remain.
The Outlook projects global growth slowing from 3.2% in 2025 to 2.9% in 2026, before picking up to 3.1% in 2027.
GDP growth in the United States is projected to decline from 2.0% in 2025 to 1.7% in 2026 and 1.9% in 2027. In the euro area, growth is expected to be 1.3% in 2025, 1.2% in 2026 and 1.4% in 2027. China’s growth is projected to ease from 5.0% in 2025 to 4.4% in 2026 and 4.3% in 2027.
Annual headline inflation in the G20 economies is expected to moderate to 2.9% and 2.5% in 2026 and 2027 respectively, from 3.4% this year. By mid-2027, inflation is projected to be back to target in most major economies.