Negotiated cash fed cattle trade was limited on light demand in the Southern Plains. A few live sales in the Texas Panhandle traded from $119 to $120/cwt. through Wednesday afternoon, according to the Agricultural Marketing Service. In Kansas, a few live purchases traded at $120. In Nebraska and the Western Corn Belt, negotiated cash trading was slow with moderate demand. There were a few dressed trades in Nebraska at $190 to $191. In the western Corn Belt, there were a few live sales at $120 and few in the beef at $190-$191.
Feeder Cattle futures rallied higher with news JBS was resuming operations following the cyber-attack on its IT systems.
Feeder Cattle futures closed an average of $2.08 higher, from $3.18 to $2.40 higher in the front three months and $1.90 to $1.40 higher across the rest of the board.
Live Cattle futures closed an average of $1.61 higher, with the most gain ion the front two contracts. Only Apr ’22 and Jun ’22 gained less than $1 at 75¢ and 88¢ respectively.
Choice boxed beef cutout value was was $5.60 higher Wednesday afternoon at $340.16/cwt. Select was $5.43 higher at $311.88.
Grain markets were mixed on Wednesday with weather weighing on the corn market.
Corn futures closed down across the board an average of 6¢ lower through Jly ‘22.
Soybean futures closed up up an average of 16¢ through Mar ’22.