After retrenching in the previous session, Cattle futures mostly gained Wednesday with expectations of higher cash prices again this week.
Feeder Cattle futures closed an average of 81¢ higher, except for 17¢ lower in waning spot Oct.
Live Cattle futures closed an average of 28¢ higher, except for unchanged to an average of 16¢ lower in three contracts.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Wednesday afternoon, according to the Agricultural Marketing Service.
Live prices last week were $148/cwt. in the Southern Plains, $150-$152 in Nebraska and $150 in the western Corn Belt. Dressed prices were $236 in Nebraska and $232-$236 in the western Corn Belt.
Choice Boxed beef cutout value was 57¢ lower Wednesday afternoon at $260.86/cwt. Select was $1.25 higher at $228.60/cwt.
Corn futures closed 1¢ to 2¢ lower.
Soybean futures closed mostly 1¢ to 4¢ lower.