Negotiated cash fed cattle trade and demand were moderate in the Southern Plains through Wednesday afternoon, according to the Agricultural Marketing Service. Live prices were $3 higher than last week at $120/cwt.
In Nebraska, trade was light on light to moderate demand. Although too few to trend, there were some live sales at $120-$123. Prices there last week were at $118 on a live basis and at $190 in the beef.
Also too few to trend, early live prices in Colorado were at $120-$123. The last established market was two weeks ago at $116.
Last week, in the western Corn Belt, prices were at $118-$120 on a live basis and at $188-$190 dressed.
Cattle feeders offered 4,422 head in Central Stockyards’ weekly Fed Cattle Exchange auction. Of those, 3,277 head sold, all from Texas and Nebraska and all on a live weight basis. Steer prices ranged from $122.00 to $122.75/cwt. in Nebraska and from $120.00 to $120.75 in Texas. Heifer prices ranged from $122.00 to $122.75 in Nebraska and from $120.50 to $121.00 in Texas.
Cattle futures extended gains Wednesday, supported by higher cash fed cattle prices and the continued increase in wholesale beef values.
Live Cattle futures closed an average of 49¢ higher.
Feeder Cattle futures closed an average of $1.11 higher (90¢ to $1.60 higher).
Choice boxed beef cutout value was $3.54 higher Wednesday afternoon at $266.31/cwt. Select was $3.89 higher at $255.19.
Corn futures closed mostly 1¢ to 3¢ higher.
Soybean futures closed 3¢ to 10¢ lower through the front four contracts, and then mostly fractionally mixed.