Stronger cash prices, the early-week, bullish Cattle report, the performance-depressing widespread winter storm and improved packer production helped Cattle futures take another step higher Wednesday.
Feeder Cattle futures closed an average of $2.17 higher ($1.55 to $3.175 higher).
Live Cattle futures closed an average of $1.14 higher (83¢ to $1.65 higher).
Negotiated cash fed cattle trade in Nebraska and the Western Corn Belt was moderate through Wednesday afternoon, according to the Agricultural Marketing Service. In Nebraska, live sales traded $3-$4 higher at $140/cwt. and dressed sales traded $4 higher at $222. In the Western Corn Belt, live sales traded $3 higher at $140-$141 and dressed prices were $4 higher at $222.
Trade in the Southern Plains was mostly inactive on light demand. Last week, live sales were $137 in the Texas Panhandle and $136 in Kansas.
Choice Boxed beef cutout value was $2.29 lower Wednesday afternoon at $283.15/cwt. Select was 65¢ lower at $279.57
Corn futures closed mostly down 2¢ to 12¢.
Soybean futures closed 1¢ to 16¢ higher through March ’23, then down 2¢ to 9¢.