Negotiated cash fed cattle trade was slow to moderate on moderate demand in Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service (AMS). Live prices were $1-$2 lower than last week at $105/cwt. Dressed prices were $3 lower at $165.
There were a few early sales in the western Corn Belt at $105 live and at $165 in the beef, but too few to trend. Prices last week were at $104-$105 and $168, respectively.
Trade was at a standstill in the Southern Plains. Prices there last week were at $108.
However, slaughter steers at the Sioux Falls Regional auction in South Dakota sold $3-$5 higher; $2-$4 higher for fat heifers. There were 185 Choice 2-3 steers weighing an average of 1,469 lbs. bringing an average of $107.13.
Cattle futures closed higher Wednesday, perhaps helped along by positioning ahead of Friday’s monthly Cattle on Feed report.
Live Cattle futures closed an average of 61¢ higher, from 17¢ higher in spot Dec to 90¢ higher.
Feeder Cattle futures closed an average of 84¢ higher.
Choice Boxed beef cutout value was $1.60 lower Wednesday afternoon at $207.22/cwt. Select was 11¢ lower at $192.09.
Corn futures closed mostly 1¢ higher. ,
Soybean futures closed fractionally lower through Aug ‘21 and then mostly 4¢ to 5¢ lower.