Negotiated cash fed cattle trade remained undeveloped through Wednesday afternoon. There were just 310 head offered in the weekly Fed Cattle Exchange auction, and no takers.
Despite sharply higher outside markets, Cattle futures continued to erode on Wednesday, led by Feeder Cattle, as traders seem to be concentrating on increased beef supplies down the road, rather than relative snugness through the end of the year.
Other than 67¢ higher in spot Nov, Live Cattle futures closed an average of 40¢ lower.
Other than 5¢ lower in spot Nov, Feeder Cattle futures closed an average of 98¢ lower.
Wholesale beef values were weak to lower on light demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 54¢ lower Wednesday afternoon at $218.22/cwt. Select was $2.89 lower at $201.77.