Fed cattle markets were mixed on Wednesday.
Country trade in Kansas was $1 lower than last week on a live basis at $111/cwt., on moderate trade and demand, according to the Agricultural Marketing Service.
Likewise, $111 bought the 326 head offered in the weekly Fed Cattle Exchange auction: 243 head for delivery at 1-9 days and 83 head for delivery at 1-17 days.
At fat auctions in the north, though, prices were higher.
Slaughter steers and heifers sold fully $1 higher at Sioux Falls Regional in South Dakota: $115.35/cwt. for Ch 2-3 steers at an average of 1,400 lbs.
At the fat auction in Tama, Iowa Ch 2-4 steers sold $3.50-$4.00 higher at $118.50 and an average weight of 1,338 lbs. Choice heifers sold $3 higher.
Feeder Cattle led Cattle futures lower Wednesday, perhaps with some positioning ahead of Friday’s monthly Cattle on Feed report.
Live Cattle futures closed an average of 52¢lower.
After 47¢lower in spot Aug, Feeder Cattle futures closed an average of $1.12 lower.
Corn futures closed fractionally higher to 1¢ higher.
Soybean futures closed mostly 4¢ to 5¢ lower.
Wholesale beef values were weak to lower on light demand and heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 36¢ lower Wednesday afternoon at $212.57/cwt. Select was 82¢ lower at $188.34.