There was little to no country trade for negotiated cash fed cattle through Wednesday afternoon, but early signs pointed to steady money or just either side of even.
Slaughter steers sold steady to $1 higher at Sioux Falls Regional in South Dakota. Slaughter heifers sold steady to $2 higher.
At the fat auction in Tama, IA, however, Choice Steers and heifers sold 75¢ to $1 lower: $117.30/cwt. for Ch 2-4 steers at an average of 1,339 lbs.
There were only 378 head offered in the weekly Fed Cattle Exchange auction and no takers.
Cattle futures traded sideways until a bounce in Feeder Cattle.
Except for 15¢ lower in spot Aug and unchanged in Feb, Live Cattle futures closed an average of 10¢ higher.
Feeder Cattle futures closed an average of 34¢ higher.
Corn futures closed mostly fractionally lower.
Soybean futures closed mostly 4¢ to 5¢ higher.
Wholesale beef values were steady to weak on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 18¢ lower Wednesday afternoon at $213.60/cwt. Select was 29¢ lower at $189.42.