Negotiated cash fed cattle prices edged higher Wednesday amid light trade. Although there were too few transactions to trend in any region, there were some live trades $1 higher in the Southern Plains at $111/cwt., some at steady money in Nebraska at $110 and a few $2-$6 higher in the western Corn Belt at $112. There were also a few dressed sales $4 higher in Nebraska at $176.
Cattle feeders offered 1,015 head (six lots) in the Central Stockyards weekly Fed Cattle Exchange auction Wednesday. One lot of heifers—194 head—from the Southern Plains sold for a weighted average price of $111/cwt. on a live basis.
Cattle futures closed mostly lower Wednesday, especially Feeder Cattle, as grain futures continued surging higher.
Live Cattle futures closed an average of 19¢ lower, except for 7¢ and 27¢ higher at either end of the board.
Feeder Cattle futures closed an average of $1.14 lower.
Choice boxed beef cutout value was 23¢ higher Wednesday afternoon at $210.53/cwt. Select was $4.38 higher at $199.86.
Corn futures closed 5¢ to 8¢ higher through Sep ‘21 and then mostly 1¢ to 2¢ higher.
Soybean futures closed mostly 5¢ to 7¢ higher.