Negotiated cash fed cattle trade was slow on light demand through Wednesday afternoon, according to the Agricultural Marketing Service.
Live prices in the Texas Panhandle Prices were steady to $3 lower than last week at $116-$120/cwt., steady to $1 higher in Kansas at $119-$120 and steady in Nebraska at $120. Dressed trade was steady to $1 higher in Nebraska at $191.
Although there were too few transactions to trend in the western Corn Belt, early live trades were steady at $120, while dressed sales were steady to $3 higher at $191.
Cattle futures edged lower Wednesday. Pressure included softer cash prices in the south and a deceleration in wholesale beef values.
Feeder Cattle futures closed an average of 49¢ lower (5¢ to $1.47 lower), except for an average of 24¢ higher in two contracts.
Live Cattle futures closed an average of 34¢ lower.
Corn futures edged mostly 2¢ to 5¢ higher Wednesday, following the previous day’s steep break.
Front-month Soybeans continued to soften with the lack of follow-through export sales. Soybean futures closed fractionally lower to 8¢ lower through Jly ‘22 and then mostly 7¢ higher.