Cattle futures eased mainly lower again Wednesday as traders awaited direction from weekly cash fed cattle trade.
Toward the close, Live cattle futures were an average of 53¢ lower except for 37¢ higher toward the back.
Feeder Cattle futures were an average of 64¢ lower.
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.
Based on the latest established trade, FOB live prices last week were $228/cwt. in the Southern Plains, $235-$237 in Nebraska and $235-$238 in the western Corn Belt. Dressed delivered prices were $376.
Choice boxed beef cutout value was 69¢ higher Wednesday afternoon at $394.94. Select was $6.12 lower at $376.29.
Grain and Soybean futures were lower again Wednesday with favorable domestic weather and bullish production overseas.
Toward the close and through Mar ‘26 contracts, Corn futures were 5¢ to 7¢ lower. Kansas City Wheat futures were 10¢ to 11¢ lower. Soybean futures were 17¢ to 21¢ lower.
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Major U.S. financial indices closed narrowly mixed Wednesday.
The Dow Jones Industrial Average closed 106 points lower. The S&P 500 closed fractionally higher. The NASDAQ was up 61 points.
Through midafternoon, West Texas Intermediate Crude Oil futures (CME) were 17¢ lower to 48¢ higher through the front six contracts.
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Creighton University’s Rural Mainstreet Index (RMI) rose 7.9 points month to month in June to 51.9, edging above growth neutral for just the third time in two years. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.
“Despite the significant increase for the month, on average, bankers expect approximately one in four farmers to experience negative income for farmers in their area,” says Ernie Goss, Jack A. MacAllister Chair in Regional Economics at Creighton University’s Heider College of Business.
Overall, rural bankers remain pessimistic about economic growth for their area over the next six months. The June confidence index increased to a frail 37.0 from May’s 30.0. “Weak grain prices and negative farm cash flows, combined with tariff retaliation concerns, pushed banker confidence lower,” Goss explains.
The RMI is based on a monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.