Negotiated cash fed cattle trade remained undeveloped through Wednesday afternoon. If some of the fed cattle auctions—and a smattering of country sales—are any indication, though, steady money may be a hopeful stretch this week.
For instance, Choice 2-3 steers brought $110.00-$111.25/cwt. at Sioux Falls Regional in South Dakota. Choice 3-4 steers brought $109.00-$111.60.
Although too few to trend, there were some early live country sales in the western Corn Belt at $110, which was $1-$3 lower than last week’s trade in the region.
There were only 620 head offered in the weekly Fed Cattle Exchange auction Wednesday, and no takers.
As for Cattle futures, adjusting to the previous session’s rally seemed to be the main business.
Other than unchanged in June, Live Cattle futures closed an average of 35¢ lower.
After unchanged in the front two contracts, Feeder Cattle futures closed an average of 54¢ lower.
Wholesale beef values were lower on light demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 92¢ lower Wednesday afternoon at $213.16/cwt. Select was $1.80 lower at $197.18.