Cattle futures continued higher Wednesday, helped along by another day of higher wholesale beef values.
Toward the close, Live Cattle futures were an average of $1.19 higher. Feeder Cattle futures were an average of $1.99 higher.
Negotiated cash fed cattle trade was inactive on light demand in all major cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $249/cwt. in the Southern Plains, mainly $247-$248 in Nebraska and $245-$247 in the western Corn Belt. Dressed delivered prices were $388.
Choice boxed beef cutout value was $1.80 higher Wednesday afternoon at $379.23/cwt. Select was $1.06 higher at $367.07.
Grain and Soybean futures were mixed on Wednesday.
Toward the close, through near Sep contracts, KC HRW Wheat futures were 2¢ to 4¢ lower again on further profit taking. Soybean futures were mostly 6¢ to 10¢ higher on continued optimism about trade talks with China. Corn futures were 2¢ to 3¢ higher.
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