Cattle feeders offered 683 head in the weekly Fed Cattle Exchange Auction, all from the Southern Plains. They sold 219 head (two lots) for an average of $104.16/cwt., for delivery at 1-17 days. That was higher than last week’s country trade of $103.00-$103.50.
Similarly, Choice steers and heifers sold 75¢ to $1 higher at the fat auction in Tama, IA. Choice 2-4 steers (217 head) weighing an average of 1,450 lbs. sold for an average price of $105.55/cwt., at the top of last week’s price range for country trade.
On the other hand, slaughter steers sold $2-$3 lower at Sioux Falls Regional in South Dakota, where 332 Choice 2-3 steers weighing an average of 1,490 lbs. brought an average price of $102.92.
The notion of firm to higher cash prices helped support Cattle futures Wednesday, although trade was sluggish.
Live Cattle futures closed an average of 51¢ higher (10¢ to $1.02 higher).
Feeder Cattle futures closed an average of 55¢ higher.
Choice boxed beef cutout value was 43¢ higher Wednesday afternoon at $215.87/cwt. Select was $1.30 higher at $207.60.
Corn futures closed fractionally lower to 1¢ lower.
Soybean futures closed 3¢ to 5¢ lower through Nov ’21 and then mostly fractionally higher.