Negotiated cash fed cattle trade developed in the Southern Plains Wednesday at $113/cwt., which was $2 lower than last week. Trade was light to moderate on moderate demand.
There were 566 head (three lots) offered in the weekly Fed Cattle Exchange auction at an offer price of $114; with no takers.
Cattle futures continued joined at the hip to equity markets on Wednesday, surging higher on the day.
Live Cattle futures closed an average of 92¢ higher (50¢ to $1.17 higher).
Feeder Cattle futures closed an average of $1.92 higher ($1.32 to $2.72 higher).
Wholesale beef values were steady on Choice and lower on Select with moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 20¢ higher Wednesday afternoon at $206.82/cwt. Select was $1.19 lower at $201.51.
Corn futures closed 1¢ to 5¢ higher through Mar ’21 and then mostly unchanged to fractionally mixed.
Soybean futures closed 1¢ to 5¢ higher through the front three contracts and then mostly 6¢ lower.