Negotiated cash fed cattle trade was limited on good demand in Kansas, Nebraska and the Western Corn Belt through Wednesday afternoon, according to the Agricultural Marketing Service.
Although too few transactions to trend, there were some early FOB live trades in Nebraska at $229-$230/cwt. and a few dressed delivered sales at $360-$370. Likewise, there were some early trades in the western Corn Belt at $230 and $360, respectively.
Last week, FOB live prices were $220 in the Southern Plains, mostly $229 in Nebraska and $228-$229 in the western Corn Belt. Dressed delivered prices were $358.
Choice boxed beef cutout value was 84¢ higher Wednesday afternoon at $359.59/cwt. Select was $3.32 higher at $348.28.
Higher wholesale beef values and the hint of stronger cash fed cattle prices helped lift Live Cattle futures Wednesday. Toward the close, they were an average of 54¢ higher (17¢ higher at the back to $1.02 higher at the front).
However, Feeder Cattle futures were an average of $1.09 lower toward the close, except for 2¢ higher in spot May, pressured by the recent increase in Corn futures and some softness in country cash prices, albeit at historically high levels.
Turning to the grain complex, futures continued higher Wednesday, led by Wheat, with likely continued short covering, the softer U.S. dollar and perhaps some weather premium.
Toward the close and through Mar ‘26 contracts, Corn futures were 5¢ to 6¢ higher. Kansas City Wheat futures were 3¢ to 4¢ higher. Soybean futures were 7¢ to 10¢ higher.
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