Negotiated cash fed cattle trade and demand were moderate in the Texas Panhandle through Wednesday afternoon with prices steady at $140/cwt. Trade in Nebraska was moderate on moderate to good demand, also at steady prices of $146 on a live basis and $232 in the beef.
Elsewhere, trade was slow on light to moderate demand, with too few transactions to trend. However, there were some early live sales at $140 in Kansas and at $145-$146 in the North.
Last week, live prices were $140 in Kansas, $146-$147 in Colorado and $145-$147 in the western Corn Belt, where dressed prices were $232.
The weighted average five-area direct fed steer price in April was $141.66/cwt., which was $20.78 higher than a year earlier (+17%). The average steer price in the beef was $36.55 higher (+16%) at $228.86.
Choice Boxed beef cutout value was 19¢ higher Wednesday afternoon at $259.74/cwt. Select was 34¢ higher at $247.68.
Cattle futures held their ground in the face of firmer Corn futures.
Live Cattle futures closed narrowly mixed, from an average of 26¢ lower to an average of 13¢ higher.
Feeder Cattle futures closed an average of 42¢ higher except for an average of 28¢ lower in three contracts, amid light trade.
Corn futures closed mainly fractionally higher to 1¢ higher. Soybean futures closed 6¢ 10¢ higher.