Negotiated cash fed cattle trade was slow with moderate demand in Kansas and Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service.
Live prices were steady in Kansas at $123-$124/cwt., but $1 lower in Nebraska at $124. Dressed trade in Nebraska was $2 lower at $198.
Trade was limited on light demand in other regions. A light test brought steady money of $124 in the Texas Panhandle. Live sales in the western Corn Belt last week were $123-$124; dressed sales were $196-$200.
Higher outside markets and potential positioning ahead of Friday’s Cattle on Feed report helped lift Cattle futures Wednesday.
Feeder Cattle futures closed an average of $1.09 higher (87¢ to $1.27 higher) except for 5¢ lower in spot Sep.
Live Cattle futures closed an average of $1.02 higher (65¢ to $1.30 higher).
Choice boxed beef cutout value was $3.54 lower Wednesday afternoon at $307.83/cwt. Select was $2.51 lower at $275.50.
Corn futures closed 7¢ to 8¢ higher through new-crop contracts and then mostly 1¢ to 3¢ higher.
Soybean futures closed 6¢ to 9¢ higher through the front six contracts and then mostly 1¢ to 4¢ higher.