Cattle futures closed higher Wednesday, recovering some ground lost in the previous session’s limit losses. Increased trade activity and higher outside markets provided support.
Live Cattle futures closed an average of $1.77 higher ($1.17 higher to $2.70 higher in spot Apr).
Feeder Cattle futures closed an average of $2.01 higher (40¢ to $2.80 higher).
Wholesale beef values were higher on Choice and sharply higher on Select with moderate to good demand and moderate to heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 81¢ higher Tuesday afternoon at $226.67/cwt. Select was $4.37 higher at $215.77.
Corn futures closed 3¢ to 5¢ lower through Dec ’20 and then mostly 1¢ to 2¢ lower.
Soybean futures closed 5¢ to 7¢ lower through Jan ’21 and then mostly 4¢ lower.