Negotiated cash fed cattle trade was moderate to active on good demand in the Southern Plains through Wednesday afternoon, according to the Agricultural Marketing Service. Live prices were $2 higher at $142/cwt.
Although too few transactions to trend, live prices in Nebraska were $2-$3 higher at $142-$143 on slow trade and light to moderate demand. Dressed sales were $2 higher at $226.
Also too few to trend, there were a few live sales in the western Corn Belt steady to $3 higher at $141-$143. Dressed prices last week were $224.
Even so, Cattle futures mainly paddled in place.
Live Cattle futures closed an average of 18¢ higher.
Feeder Cattle futures closed an average 43¢ lower (10¢ to $1.27 lower) except for unchanged and 27¢ higher in the back two contracts.
Choice Boxed beef cutout value was 75¢ lower Wednesday afternoon at $269.62/cwt. Select was $1.74 lower at $266.08.
Corn futures closed 4¢ to 9¢ higher through May ’23 and then mostly 1¢ higher.
Soybean futures closed mostly 23¢ to 36¢ higher through Jan ’23 and then mostly 10¢ higher.