Cattle futures continued higher Wednesday amid light holiday-trade.
Toward the close, Live Cattle futures were an average $1.07 higher. Feeder Cattle futures were an average of $1.02 higher.
Negotiated cash fed cattle trade was inactive on moderate demand in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $229/cwt. in Kansas, $230 in Nebraska and $228-$230 in the western Corn Belt.
Dressed delivered prices were mostly $356 in Nebraska and $356-$358 in the western Corn.
Choice boxed beef cutout value was 75¢ lower Wednesday afternoon at $347.45/cwt. Select was 78¢ lower at $342.38.
The grain complex continued mainly lower on Wednesday, led by Soybeans.
Toward the close, through near Jly contracts, Soybean futures were 11¢ to 15¢ lower on expectations of a bumper crop in Brazil and continued wonderment about the trade deal with China.
Corn futures were fractionally higher. KC HRW Wheat futures 6¢ to 7¢ lower.
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Major U.S. financial indices closed lower Wednesday on likely year-end profit taking and positioning.
The Dow Jones Industrial Average closed 303 points lower. The S&P 500 closed 50 points lower, and the NASDAQ was down 177 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 48¢ to 54¢ lower through the front six contracts.