Cattle futures closed lower Wednesday with the lack of cash fed cattle direction and firmer Corn futures prices.
Feeder Cattle futures closed an average of 65¢ lower, from 7¢ to $1.17 lower.
Live Cattle futures closed an average of 19¢ lower, except for unchanged in spot Feb.
Negotiated cash fed cattle trade ranged from very limited on light demand to a standstill through Wednesday afternoon, according to the Agricultural Marketing Service.
Live prices last week were $157/cwt. in the Southern Plains and Nebraska and $158-$160 in the western Corn Belt. Dressed prices were $252.
Choice boxed beef cutout value was $3.80 lower Wednesday afternoon at $280.73/cwt. Select was 23¢ lower at $258.10/cwt
Corn futures closed fractionally higher to 1¢ higher through Sep ’23 and then mostly 2¢ lower
Soybean futures closed 2¢ to 8¢ higher through Aug ‘23 and then mostly 3¢ to 6¢ lower.