Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183/cwt. in the Southern Plains and $185 in the north. Dressed delivered prices were $290-$292.
Choice boxed beef cutout value was $1.28 lower Wednesday afternoon at $303.86/cwt. Select was 28¢ lower at $278.35/cwt.
Cattle futures wobbled Wednesday amid slack interest, the wait for the week’s cash fed cattle direction and Friday’s Cattle on Feed report.
Feeder Cattle futures closed an average of $1.38 lower.
Live Cattle futures closed narrowly mixed from unchanged to an average of 21¢ higher in the front four contracts to an average of 31¢ lower.
Soybean futures closed 8¢ to 14¢ higher through Aug ‘24. and then 4¢ to 6¢ higher, helped along by an export announcement for China.
Corn futures closed fractionally higher to 3¢ higher.
KC HRW Wheat closed 1¢ to 3¢ higher.