Negotiated cash fed cattle prices were $1-$3 lower in Nebraska Wednesday at $139-$142/cwt. Dressed prices were $3 lower at $227. That was on slow trade and light demand, according to the Agricultural Marketing Service.
Elsewhere, trade was limited on light demand with too few transactions to trend.
Live sales were $1 lower in the Texas Panhandle on Tuesday at $136.
Last week, live sales were $137 in Kansas and $143.50-$145.00 in the western Corn Belt, where dressed prices were $228-$230.
Despite the softer cash tone, recently firmer wholesale beef values helped Live Cattle close narrowly mixed, from 32¢ lower to 25¢ higher.
However, Choice Boxed beef cutout value was $2.04 lower Wednesday afternoon at $270.53/cwt. Select was $1.48 lower at $242.25/cwt.
Feeder Cattle futures closed an average of 80¢ lower with likely profit taking and retrenching ahead of Friday’s semiannual Cattle report and the monthly Cattle on Feed report.
Favorable weather pressured Corn and Soybean futures Wednesday.
Corn futures closed 3¢ to 5¢ lower through new-crop contracts and then mostly fractionally lower to 1¢ lower.
Soybean futures closed mostly 22¢ to 25¢ lower.