There was no negotiated cash fed cattle trade summary available from USDA at press time Wednesday, but indications continued to point to higher prices for the week.
For instance, Choice steers and heifers sold $3.50 to $3.75 higher at the fat auction in Tama, Iowa. There were 127 head of Choice 2-4 steers weighing an average of 1,382 lbs. and bringing an average of $104.32/cwt.
Cattle feeders offered 1,474 head in the weekly Fed Cattle Exchange Auction—all from the Southern Plains. Of those, 1,400 head sold: 960 head for delivery of 1-9 days at an average weighted price of $99.95/cwt.; 440 head for delivery at 1-17 days for a weighted average price of $100.
Except for 2¢ and 5¢ lower in two contracts, Live Cattle futures closed an average of 34¢ higher.
Except for 15¢ lower in Sep, Feeder Cattle futures closed an average of 59¢ higher.
Choice boxed beef cutout value was 58¢ lower Wednesday morning at $203.66/cwt. Select was 56¢ higher at $191.01.
Corn futures closed 1¢ to 3¢ higher.
Soybean futures closed 1¢ to 3¢ lower through Mar ’21 and then mostly 1¢ higher.