Cattle futures gained Wednesday and continued to retrench, supported by higher outside markets.
Toward the close, Live Cattle futures were an average of $2.08 higher. Feeder Cattle futures were an average of $3.39 higher.
Negotiated cash fed cattle trade ranged from inactive on light demand in the Southern Plains to a standstill elsewhere through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $197 in the Southern Plains and $198 in the North. Dressed delivered prices were $313.
Choice boxed beef cutout value was $1.33 lower Wednesday afternoon at $313.54/cwt. Select was $1.49 lower at $302.53.
Grain and Soybean futures were higher Wednesday, taking a breather from recent tariff pressure.
Toward the close and through Sep ’25 contracts, Corn futures were mostly fractionally higher to 5¢ higher. Kansas City Wheat futures were 7¢ to 9¢ higher. Soybean futures were 7¢ to 14¢ higher.
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Major U.S. financial indices rallied Wednesday with chatter that the Trump administration will delay tariffs on automakers that comply with the United States-Mexico-Canada Agreement established in 2020, raising hopes for other tariff concessions.
The Dow Jones Industrial Average closed 485 points higher. The S&P 500 closed 64 points higher. The NASDAQ was up 267 points.
Through midafternoon, West Texas Intermediate Crude Oil futures on the CME were $1.39 to $1.83 lower through the front six contracts, pressured by concerns about tariff impacts on demand.