In country trade on Wednesday, negotiated cash fed cattle sales were $8-$10 lower than last week on a live basis at $121-$123/cwt. Dressed trade was $4-$17 lower in Nebraska at $196-$198.
Those live sales mirrored the weekly Fed Cattle Exchange Auction earlier in the day, where the weighted average price was $123 for delivery at 1-9 days. Of the 2,147 head offered, only two lots sold, comprising 457 head—all steers, some from Texas and some from South Dakota.
Feeder Cattle futures eked out minimal gains on Wednesday, while Live Cattle turned lower after support early in the session.
Other than 2¢ higher in back Jun, Live Cattle futures closed an average of 46¢ lower (15¢ to 85¢ lower).
Feeder Cattle futures closed an average of 68¢ higher (47¢ to $1.15 higher).
Choice boxed beef cutout value was $1.57 lower Wednesday afternoon at $245.42/cwt. Select was 98¢ lower at $218.90.