Negotiated cash fed cattle trade ranged from limited on light demand to slow on moderate demand through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, various reports suggested prices were a touch higher than earlier in the week, supported by the bounce in futures.
So far this week, live prices are $1 lower in the Texas Panhandle at $135/cwt. and $1-$3 lower in Kansas and Nebraska at $135. Dressed trade in Nebraska is steady to $1 lower at $217-$218. Last week, live prices were at $138 in the western Corn Belt and dressed trade was at $217-$218.
Cattle futures extended recent gains Wednesday amid lighter pre-holiday trade.
Feeder Cattle futures closed an average of 58¢ higher (10¢ to 95¢ higher).
Live Cattle futures closed an average of 66¢ higher.
Choice boxed beef cutout value was 47¢ higher Wednesday afternoon at $261.86/cwt. Select was 91¢ higher at $250.83/cwt.
Corn futures closed 3¢ to 4¢ higher through Sep ‘22, and then mostly 1¢ higher.
Soybean futures closed 15¢ to 22¢ higher through Sep ‘22 and then mostly 7¢ to 8¢ higher.