Cattle futures were lower again Wednesday with funds likely taking more risk off the table following the previous session’s jolt.
Toward the close, Live cattle futures were an average of $1.16 lower. Feeder Cattle futures were an average of $2.65 lower.
Negotiated cash fed cattle trade was mostly inactive on light to moderate demand in all major cattle feeding regions through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
FOB live prices last week were $220/cwt. in the Texas Panhandle, $219-$221 in Kansas, $230-$231 in Nebraska and $229-$231 in the western Corn Belt. Dressed delivered prices were $360-$367 in Nebraska and $360-$365 in the western Corn Belt.
Choice boxed beef cutout value was $3.57 higher Wednesday afternoon at $365.42/cwt. Select was 91¢ higher at $351.74.
Grain and Soybean futures ground sideways to lower Wednesday.
Toward the close and through Mar ‘26 contracts, Corn futures were 3¢ to 8¢ lower. Kansas City Wheat futures were unchanged to 1¢ higher. Soybean futures were 12¢ to 14¢ lower.
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Major U.S. financial indices closed lower Wednesday.
The Dow Jones Industrial Average closed 244 points lower. The S&P 500 closed 32 points lower. The NASDAQ was down 98 points.
Through midafternoon, West Texas Intermediate Crude Oil futures (CME) were 37¢ to 69¢ higher through the front six contracts.
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Beef in cold storage April 30 of 418.1 million pounds was 2% less than the previous month and year, according to the latest USDA Cold Storage report.
Frozen pork supplies of 455.8 million pounds were 11% more than the previous month but 9% less year over year.
Total frozen red meat supplies of 893.6 million pounds were 5% more than the previous month but 6% less than the same time last year.
On the other side of the case, there were 1.1 billion pounds of poultry in freezers, which was slightly less than a month earlier and down 5% from a year earlier.