Feeder Cattle futures bounced an average of $2.01 higher Wednesday, helped along by lower Corn futures and bullish outside markets. Live Cattle futures closed an average of 53¢ higher.
Corn futures closed mostly 3¢ to 5¢ lower.
Soybean futures closed mostly 3¢ to 5¢ higher, supported by stronger Crude Oil prices.
Negotiated cash fed cattle trade was slow on light demand in the Southern Plains through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early live sales in the Texas Panhandle steady at $155/cwt. Prices in Kansas last week were $154-$155.
Elsewhere, trade ranged from inactive on light demand to a standstill. Live prices last week were $157-$158 in Nebraska and $155-$157 in the western Corn Belt. Dressed prices were $245.
Choice Boxed beef cutout value was 14¢ higher Wednesday afternoon at $254.88/cwt. Select was 81¢ lower at $225.01/cwt.
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