Cattle futures were higher Wednesday. Toward the close, Live Cattle futures were an average of $1.09 higher. Feeder Cattle futures were an average of $3.18 higher.
Negotiated cash fed cattle trade was mostly 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 $258-$260/cwt. in the Southern Plains and mostly $260 in the North. Dressed delivered prices were mostly $408 in Nebraska and $405 in the western Corn Belt on a light test.
Choice boxed beef cutout value was $1.37 lower Wednesday afternoon at $398.94/cwt. Select was $2.92 lower at $378.14.
Grain and Soybean futures were mostly lower on Wednesday. Toward the close, and through near Mar contracts, Corn futures were 3¢ lower. Soybean futures were 7¢ to 9¢ lower. Kansas City HRW Wheat futures were fractionally lower to 2¢ higher.
******************************
Major U.S. financial indices closed mixed Wednesday with continued pressure from the selloff in chip stocks.
The Dow Jones Industrial Average closed 182 points higher. The S&P 500 closed 7 points lower. The NASDAQ was down 110 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $2.38 to $3.39 lower through the front six contracts.