Cash fed cattle trade remained undeveloped through Wednesday afternoon.
There were only 250 head offered in the weekly Fed Cattle Exchange auction, and no takers.
Cattle futures closed either side of steady with no direction from the cash market, biding time for Thursday’s monthly Cattle on Feed report and little trading interest.
Live Cattle futures closed marginally mixed, (an average of 13¢ lower through the front three contracts and then an average of 12¢ higher).
Other than unchanged in spot Jan, Feeder Cattle futures closed an average of 24¢ lower.
Corn futures closed 2¢ to 3¢ lower through Jul ’20 and then mostly fractionally lower.
Soybean futures closed most 5¢ to 7¢ lower.
Wholesale beef values were lower on Choice and steady on Select with light to moderate demand and light offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 98¢ lower Wednesday afternoon at $211.70/cwt. Select was 12¢ higher at $204.85.