Negotiated cash fed cattle trade was undeveloped through Wednesday afternoon, although there were some steady-money bids reported in the north.
Likewise, there were no sales in the weekly Fed Cattle Exchange auction, which had just 423 head on offer.
Prices were higher at some live fat auctions, though. Ch 2-3 steers weighing an average of 1,385 lbs. brought an average of $113.41/cwt. at Sioux Falls Regional in South Dakota. At Tama, IA, Ch 2-4 steers brought $114.90 at 1,312 lbs.
Cattle futures closed narrowly mixed, with more support in the deferred months as traders repositioned following the previous session’s sharp gains.
Live Cattle futures closed from an average of 26¢ lower across the front half of the board to an average of 7¢ higher across the back half.
Feeder Cattle futures closed from an average of 27¢ lower across the front half of the board to an average of 52¢ higher across the back half, except for unchanged in Jan.
Wholesale beef values were weak to lower on light to moderate demand and moderate to heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 31¢ lower Wednesday afternoon at $214.42/cwt. Select was $1.20 lower at $190.89.
Corn futures closed mainly 1¢ to 2¢ higher.
Soybean futures closed mostly 6¢ to 8¢ higher.
Plenty of folks will be watching for Thursday’s monthly World agricultural Supply and Demand Estimates.