Negotiated cash fed cattle trade was slow to moderate on moderate demand in the Southern Plains through Wednesday afternoon, according to the Agricultural Marketing Service. Prices were $1 higher at $171/cwt.
In Nebraska, trade was slow to moderate with moderate to good demand. Live prices were $2-$4 higher at $180-$182 and dressed prices were $4-$5 higher at $285-$286.
Although too few to trend, there were some live sales in the western Corn Belt at $180-$182 on slow trade with light to moderate demand. Live prices there last week were $177-$178 on a live basis; $280-$282 in the beef.
Cattle futures blossomed with the higher cash fed cattle prices.
Feeder Cattle futures closed an average of $1.33 higher, (87¢ to $2.17 higher).
Live Cattle futures closed an average of $1.04 higher (60¢ to $1.82 higher).
Choice boxed beef cutout value was $2.44 lower Wednesday afternoon at $298.30/cwt. Select was $2.51 higher at $283.79/cwt.
Corn futures closed mostly fractionally higher to 3¢ higher.
KC HRW Wheat closed mostly 15¢ to 29¢ lower.
Soybean futures closed mostly 2¢ to 4¢ lower.