Negotiated cash fed cattle prices were generally steady to $1 higher on a live basis and $2 higher in the beef, through Wednesday afternoon, according to the Agricultural Marketing Service.
Live prices were at $111/cwt. in the Southern Plains on moderate demand and trade. Live prices were at $110 in the western Corn Belt on slow trade and moderate demand. There were a few in Nebraska at $110. Dressed trade was at $174.
Cattle futures mostly continued gains on Wednesday, buoyed by stronger cash markets, weaker grain futures, stronger wholesale beef values and light pre-holiday trade.
Live Cattle futures closed an average of 27¢ higher.
Feeder Cattle futures closed an average of 92¢ higher (25¢ to $1.57 higher) except for 7¢ lower and 32¢ lower in the back two contracts.
Choice boxed beef cutout value was 76¢ higher Wednesday afternoon at $245.06/cwt. Select was $1.19 higher at $220.90.
Corn futures closed 5¢ lower through Jly ’21 and then mostly unchanged to 1¢ lower.
Soybean futures closed mostly 5¢ to 7¢ lower.