Negotiated cash fed cattle trade was steady with the previous week in the Southern Plains at $124/cwt. through Wednesday afternoon, according to the Agricultural Marketing Service. Trade was limited on light demand in the Texas Panhandle; slow on moderate demand in Kansas.
Trade in other regions was slow on light demand.
Live sales in Nebraska were steady to $2 higher at $124; steady in the beef at $196. Although too few to trend, there were some early live sales in the western Corn Belt at $123-$124, and a few in the beef at $196. Price there last were $122 and $193-$196, respectively.
Cattle futures closed lower Wednesday. Along with lower outside markets early in the day, most pressure seemed tied to WASDE increasing expected beef production for this year, as wholesale beef prices decline and cash fed cattle prices remain tough to budge.
Feeder Cattle futures closed an average of 85¢ lower (22¢ to $1.32 lower).
Live Cattle futures closed an average of 71¢ lower (25¢ lower at the front to $1.15 lower.)
Choice boxed beef cutout value was $1.05 lower Wednesday afternoon at $280.02/cwt. Select was $2.65 lower at $258.70.
Corn futures closed mostly 6¢ to 10¢ lower.
Soybean futures closed mostly 4¢ to 7¢ lower.