Negotiated cash fed cattle trade was light on light demand in the Texas Panhandle through Wednesday afternoon with FOB live prices $1 higher at $201/cwt. in a light test, according to the Agricultural Marketing Service.
FOB live prices were steady to $1 higher in Kansas at $201 on moderate trade and demand.
Elsewhere, trade was mostly inactive on very light demand.
Last week, FOB live prices were $203 in Nebraska and $200-$205 in the western Corn Belt. Dressed delivered prices were $320.
Choice boxed beef cutout value was $1.16 higher Wednesday afternoon at $334.14/cwt. Select was 67¢ lower at $318.04.
Cattle futures gained Wednesday with help from more optimistic outside markets and the prospects of at least steady cash fed cattle trade.
Toward the close, Feeder Cattle futures were an average of $1.13 higher. Live Cattle futures were an average of $1.24 higher.
Corn and Soybean futures were mixed Wednesday.
Toward the close and through Sep ’25 contracts, Corn futures were mostly 1¢ to 4¢ higher. Kansas City Wheat futures were 2¢ to 3¢ lower. Soybean futures were 4¢ to 8¢ lower.
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Major U.S. financial indices closed higher Wednesday with another inflation reading that came in slightly less than expected.
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% on a seasonally adjusted basis in December, after rising 0.3% in November, according to the U.S. Bureau of Labor Statistics. The all items index increased 2.9% over the last 12 months before seasonal adjustment.
However, the index for all items less food and energy rose 0.2% in December, after increasing 0.3% in each of the previous four months.
A day earlier, the Producer Price Index for final demand — a measure of wholesale price inflation — was also lower than expected.
The Dow Jones Industrial Average closed 703 points higher. The S&P 500 closed 107 points higher. The NASDAQ was up 466 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures on the CME were $1.57 to $3.01 higher through the front six contracts, supported by declining week-to-week domestic supplies and increased perceived supply risk.