Negotiated cash fed cattle trade was limited on good demand in the Texas Panhandle through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some FOB live trades at $235/cwt., which was steady with the previous day and $3 higher than last week.
Elsewhere, demand with limited on moderate demand with too few transactions to trend.
Last week, based on the latest established trade, FOB live prices were $235 in Kansas, $242-$244 in Nebraska and $240-$242 in the western Corn Belt. Dressed delivered prices were $380.
Wholesale beef prices continued to charge higher Wednesday, as packers reduce production. Choice boxed beef cutout value was $3.00 higher in the afternoon at $374.76. Select was 91¢ higher at $360.75.
However, Cattle futures were mostly lower Wednesday, with technical selling tied to concerns about the previous day’s Immigration Control and Enforcement raid on a meat production plant in Omaha, Neb. Futures did manage to recover some early-session losses.
Toward the close, Live cattle futures were an average of 69¢ lower, except for $1.10 higher in spot Jun. Feeder Cattle futures were an average of $1.57 lower.
Turning to the grain complex, Corn and Soybean futures were lower Wednesday with likely pressure from favorable weather and perhaps some positioning ahead of Thursday’s World Agricultural Supply and Demand Estimates.
Toward the close and through Mar ‘26 contracts, Corn futures were fractionally lower to 2¢ lower. Soybean futures were 1¢ to 8¢ lower. Kansas City Wheat futures were fractionally mixed to 1¢ higher.
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Major U.S. financial indices edged lower Wednesday as traders digested news of an approved framework for trade between the U.S. and China.
The Dow Jones Industrial Average closed 1 point lower. The S&P 500 closed 16 points lower. The NASDAQ was down 99 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $2.02 to $3.03 higher through the front six contracts, supported by increase tensions in the Middle East.