Another day of stronger cash trade added lift to Cattle futures an average of $1.60 higher.
So far this week, negotiated cash fed cattle prices are $1 higher on a live basis in the Southern Plains at $140/cwt., $4 higher in Nebraska at $144-$146 and $3 higher in the western Corn Belt at $145-$146. Dressed prices are $4 higher at $230.
Through Wednesday afternoon, trade was slow on light demand in Nebraska at $146 and in the western Corn Belt at $145, but too few to trend, according to the Agricultural Marketing Service.
Choice Boxed beef cutout value was $1.11 lower Wednesday afternoon at $268.82/cwt. Select was $2.68 lower at $256.53.
Mainly firm Corn futures continued to add support to Feeder Cattle, which closed an average of $1.47 higher.
Corn futures closed mostly fractionally higher to 1¢ higher, except for 11¢ and 10¢ higher in the front two contracts.
Soybean futures closed 12¢ to 30¢ higher in the front four contracts and then mostly 7¢ to 9¢ higher.