Negotiated cash fed cattle trade and demand were moderate in Kansas through Wednesday afternoon with live prices $1-$2 less than the previous week at $124/cwt.
There were 513 head offered in the weekly Fed Cattle Exchange auction and no takers.
Up north, Choice 2-4 steers brought $128.90/cwt. at the fat auction in Tama, IA. They were $125.50-$127.25 at Sioux Falls.
Growing odds for lower cash prices this week, softer wholesale beef values and the lack or packer urgency to increase harvest levels helped pressure Cattle futures Wednesday.
Except for an average of 20¢ higher in two contracts toward the back, Live Cattle futures closed an average of 36¢ lower.
Feeder Cattle futures closed an average of 54¢ lower (10¢ to 90¢ lower).
Corn futures closed mostly 1¢ to 3¢ higher.
Soybean futures closed mixed, fractionally higher to 1¢ lower.
Wholesale beef values were firm on moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 41¢ higher Wednesday afternoon at $226.14/cwt. Select was 48¢ higher at $218.97.