Negotiated cash fed cattle prices lost some ground Wednesday. Live prices in the Texas Panhandle were $4 lower at $136/cwt., on slow trade and light demand, according to the Agricultural Marketing Service. Although too few to trend, there some early dressed sales in Nebraska $2 lower at $218.
Cattle futures sagged lower, pressured by softer cash prices and reports of reduced production at some plants due to weather.
Live Cattle futures closed an average of $1.05 lower (60¢ to $1.78 lower).
Feeder Cattle futures closed an average of $1.41 lower (83¢ to $1.93 lower).
Choice boxed beef cutout value was 46¢ lower Wednesday afternoon at $260.26/cwt. Select was $1.35 lower at $247.45.
Corn futures closed 4¢ to 5¢ lower through Jly ’22, then down 1¢ to 2¢.
Soybean futures closed fractionally higher to 3¢ higher through Jly ’22, and then mostly 2¢ to 4¢ lower.