Weekly negotiated cash fed cattle trade remained undeveloped through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $144/cwt. in the Southern Plains, $145-$148 in Nebraska and $145-$149 in the western Corn Belt. Dressed prices were $230.
Cattle futures edged higher, though, with the mainly friendly World Agricultural Supply and Demand Estimates (see below).
Feeder Cattle futures closed an average of 29¢ higher, except for unchanged and 12¢ lower in two away contracts.
Live Cattle futures closed an average of 31¢ higher, except for 12¢ lower in near Dec.
Corn futures closed mostly fractionally mixed through May ‘24 then mostly 1¢ to 3¢ higher.
Soybean futures closed 12¢ to 19¢ higher through Jly ‘23, and then mostly fractionally lower to 2¢ lower.
Choice Boxed beef cutout value was 9¢ lower Wednesday afternoon at $246.66/cwt. Select was $1.41 higher at $214.26/cwt.
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