Negotiated cash fed cattle prices started the week’s trade on a mixed basis Wednesday. Live trades were unevenly steady in Texas at $110-$112/cwt. on moderate trade and light to moderate demand, according to the Agricultural Marketing Service. There were a few early trades in Kansas at $110, but too few to trend. Prices in the Southern Plains last week were at $111.
Live trade in Nebraska was steady to $1 lower at $110 on light to moderate trade and demand. There were a few dressed trades at $172-$174, but too few to trend; $174 last week. Trade in the western Corn Belt last week was at $109-$110 on a live basis and at $172-$174 in the beef.
Cattle futures mostly eked out gains on Wednesday, despite a pullback in Choice boxed beef value and stronger front-month Corn futures.
Live Cattle futures closed an average of 22¢ higher.
Feeder Cattle futures closed an average of 18¢ higher except for 5¢ lower in the back two contracts.
Choice boxed beef cutout value was $2.51 lower Wednesday afternoon at $240.89/cwt. Select was 13¢ lower at $222.95.
Corn futures closed 2¢ to 4¢ higher through Sep ’21 and then mostly fractionally higher to 1¢ higher.
Soybean futures closed 7¢ to 9¢ lower through Sep ’21 and then 3¢ to 5¢ lower.