Negotiated cash fed cattle trade continued steady with last week in the Southern Plains on Wednesday at $114/cwt., with limited trade and light demand in the Texas Panhandle; limited trade on light to moderate demand in Kansas.
Live trade in Nebraska was light on light to moderate demand at $113 to $114, which was steady with last week, but steady to $1 lower than the previous day. Dressed trade on Tuesday was mainly steady at $180.
In Colorado, live trade was steady with the prior day and week at $114, with slow trade and light demand.
Trade was limited on light demand in the western Corn Belt with too few transactions to trend. Live prices there last week were at $112 to $114; dressed trade at $180.
Cattle feeders offered 1,296 head (9 lots) in Central Stockyards’ weekly Fed Cattle Exchange auction. All were from the Southern Plains, except for one lot in Nebraska. The reserve price was $114/cwt. on all but one lot. None sold. The highest bids were at $113.75.
Cattle futures softened Wednesday, challenged by steady rather than higher cash prices and dwindling wholesale beef values.
Live Cattle futures closed an average of 49¢ lower, except for 30¢ higher in the back contract.
Feeder Cattle futures closed an average of 27¢ lower, except for unchanged in Nov.
Choice boxed beef cutout value was $1.74 lower Wednesday afternoon at $227.29/cwt. Select was $3.98 lower at $219.82.
Grain futures closed lower on Wednesday, amid likely profit taking and with the static to slightly bearish World Agricultural Supply and Demand Estimates.
Corn futures closed mostly 10¢ to 14¢ lower through the front three contracts, and then mostly 2¢ to 4¢ lower.
Soybean futures closed 22¢ to 30¢ lower through Jan ‘22, and then mostly 10¢ to 15¢ lower.