Negotiated cash fed cattle trade perked up Wednesday, but too few transactions to trend, according to USDA reports.
There were 1,189 head offered in the weekly Fed Cattle Exchange auction, with 860 head selling for a weighted average price of $118.36/cwt. for delivery at 1-9 days. That was three lots from Kansas and Nebraska.
Cattle futures sagged lower Wednesday, perhaps pressured by seasonally declining wholesale beef values and the lack of cash direction.
Live Cattle futures closed an average of $1.06 lower.
Feeder Cattle futures closed an average of $1.56 lower.
Wholesale beef values were sharply lower on light demand and heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $3.20 lower Wednesday afternoon at $226.95/cwt. Select was $2.00 lower at $210.31.
Corn futures closed 1¢ to 3¢ higher through Sep ’20 and then mostly fractionally lower.
Soybean futures closed 3¢ to 7¢ higher through Sep ’21 and then mostly 1¢ higher.