Negotiated cash fed cattle prices were $1-$2 lower than last week in Nebraska on a live basis Wednesday at $101/cwt., according to the Agricultural Marketing Service. Dressed sales were $2-$3 lower at $160-$161. Although too few to trend, there were a few live sales in Kansas at $101 and a few dressed sales in the western Corn Belt at $160-$161.
At Sioux Falls Regional in South Dakota, though, slaughter steers and heifers sold steady to $1 higher. There were 200 head of Choice 2-3 steers weighing an average of 1,468 lbs. that brought an average of $102.02/cwt.
The weekly Fed Cattle Exchange auction was postponed Wednesday, due to technical difficulties.
With packer inventory apparently abundant and wholesale beef values continuing to erode, lower cash prices pressured Cattle futures Wednesday, amid active trade.
Live Cattle futures closed an average of 63¢ lower (35¢ lower to $1.07 lower in spot Oct).
Feeder Cattle futures closed an average of $1.39 lower (55¢ lower in spot Sep to $2.00 lower).
Choice boxed beef cutout value was $1.87 lower Wednesday afternoon at $222.95/cwt. Select was 95¢ lower at $207.51.
Corn futures closed fractionally lower to 1¢ lower.
Soybean futures closed 3¢ to 6¢ higher through Aug ’21 and then mostly 1¢ higher.