Early negotiated cash fed cattle prices were a mixed bag on Wednesday.
Direct trade in the Texas Panhandle was reported at $110/cwt. on a live basis, which was $1 less than last week. That was on moderate demand and light to moderate trade.
Fat cattle auctions in the north trended higher.
For instance, Slaughter steers sold steady to $1 higher at Sioux Falls Regional Livestock in South Dakota with instances of $2 higher. Slaughter heifers sold steady to $1 higher.
Choice steers sold $1.75-$2.00 higher at Tama, Iowa (mostly $113.95). Heifers traded $1.00-$1.75 higher (mostly $113.85).
There were only 919 head offered in the weekly Fed Cattle Exchange auction. Of those 230 head (two lots of heifers from Kansas) sold for a weighted average price of $109/cwt. with delivery at 1-9 days. There were no sales there last week for a trend.
Cattle futures closed mixed on Wednesday, rebounding some from early pressure.
Live Cattle futures closed an average 39¢ higher in the front five contracts (17¢ to 67¢ higher) and then unchanged to 47¢ lower.
Except for 37¢ higher in spot October, Feeder Cattle futures closed an average of 50¢ lower (27¢ to 70¢ lower).
Choice boxed beef cutout value was 40¢ lower Wednesday afternoon at $197.26/cwt. Select was 76¢ lower at $189.09.
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