Negotiated cash fed cattle trade continued up north on Wednesday, with live sales in Nebraska $1.50 lower than last week at $105/cwt., and $2-$4 lower in the western Corn Belt at $104-$105. Dressed trade in both regions was $2 lower at mostly $167, according to the Agricultural Marketing Service. Live trade in the Southern Plains so far this week is $1 lower at $105.
After attempted support early in the session, softer cash prices and wonderments about demand pressured Cattle futures lower on Wednesday.
Live Cattle futures closed an average of $1.18 lower.
Except for 22¢ higher in spot Aug, Feeder Cattle futures closed an average of $1.36 lower.
Wholesale beef values continued to gain on Labor Day buying.
Choice boxed beef cutout value was $1.77 higher Wednesday afternoon at $231.45/cwt. Select was $1.85 higher at $214.11.
Corn futures closed mostly fractionally lower.
Soybean futures closed 1¢ to 5¢ higher through Aug ’21 and then mostly 4¢ lower.