Negotiated cash fed cattle prices for the week, through Wednesday afternoon, were $1-$3 less than the previous week on a live basis and $2-$3 lower in the beef, according to data from the Agricultural Marketing Service.
Live prices were $1 lower than the previous day and $2 less than the previous week in the Texas Panhandle at $110/cwt. Prices in Kansas were $1-$3 lower at $109-$111. Live prices in Nebraska the previous day were at $109-$111, which was steady to $1 lower than the previous week; dressed trade was $2-$3 lower at $173-$174. Live prices were $3 lower in Colorado at $109. Live prices in the western Corn Belt on Tuesday were at $108-$109, which was $1-$2 lower than the previous week; dressed trade was $3 lower at $174-$177.
Feeder Cattle futures mostly edged higher Wednesday, with Feeder Cattle recovering some of the previous session’s steep losses. Higher wholesale beef values also helped Live Cattle to firm after the front months.
Live Cattle futures closed mainly narrowly mixed but mostly higher, from an average of 22¢ lower in the front two contracts to an average of 35¢ higher.
Feeder Cattle futures closed an average of 61¢ higher.
Choice boxed beef cutout value was $1.86 higher Wednesday afternoon at $211.00/cwt. Select was 97¢ higher at $199.06.
Corn futures closed 7¢ to 8¢ higher through the front three contracts, and then mostly 3¢ to 4¢ lower.
Soybean futures closed 6¢ to 12¢ lower through Sep ‘21, and then mostly 1¢ to 4¢ higher.