Negotiated cash fed cattle trade continued steady to unevenly steady Wednesday across a broad range: $120/cwt. in the Southern Plains and mostly $115 on a live basis in the western Corn Belt, but lower in Nebraska at $114-$115. Dressed sales so far this week are at $178-$190.
Cattle feeders consigned 1,164 head to Wednesday’s weekly Fed Cattle Exchange auction–all from the Southern Plains. None sold.
Slaughter steers and heifers sold unevenly steady at Sioux Falls Regional in South Dakota, where 262 head of Choice 2-3 steers weighing an average of 1,411 lbs. sold for an average of $110.40/cwt.
Cattle futures closed higher Wednesday, maintaining strong gains from the previous session.
Live Cattle futures closed an average of 70¢ higher (10¢ higher to $1.47 higher toward the front of the board). Spot June closed at $100.80, the highest level since the first part of March.
Feeder Cattle futures closed an average of 66¢ higher.
Choice boxed beef cutout value was $7.72 lower Wednesday afternoon at $377.77/cwt. Select was $9.82 lower at $350.20.
Corn futures closed fractionally higher to 1¢ higher.
Soybean futures closed 1¢ to 2¢ higher.