Although undeveloped through Wednesday afternoon, there was some negotiated cash fed cattle trade in Kansas, with live prices $2 higher than last week at $118/cwt.
Similarly, Choice steers and heifers sold $3.00-$3.25 higher at the fat auction in Tama, IA on Wednesday. There were 124 Ch 2-4 steers weighing an average of 1,477 lbs. that brought an average of $118.12.
Cattle futures closed higher, supported by positive fundamentals, this week’s winter storms and the presumption that Tyson’s Kansas plant will resume operation next week.
Live Cattle futures closed an average of 77¢ higher (47¢ higher to $1.02 higher at the front of the board.
Other than 57¢ higher in the back contract, Feeder Cattle futures closed an average of $1.52 higher.
Wholesale beef values were firm on Choice and lower on Select with light to moderate demand and light offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 40¢ higher Wednesday afternoon at $232.24/cwt. Select was $1.65 lower at $210.64.
Corn futures closed mostly 3¢ to 5¢ lower.
Soybean futures closed 2¢ to 3¢ lower.