Negotiated cash fed cattle trade remained undeveloped through Wednesday afternoon.
There were 1,533 offered, but no sales, in the weekly Fed Cattle Exchange auction.
Although expectations remain for steady to higher prices this week, slaughter cattle sold $2-$5 lower at Sioux Falls Regional in South Dakota. Choice 2-3 steers (395 head) brought an average of $100.07/cwt. That’s on the lower end of country trade in the region last week.
Cattle futures continued to exhibit firmness on Wednesday, maintaining and extending recent gains.
Live Cattle futures closed an average of 52¢ higher (15¢ to $1.07 higher).
Feeder Cattle futures closed an average of 89¢ higher (32¢ to $1.05 higher).
Wholesale beef values were lower on Choice and steady on Select with light to moderate demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 76¢ lower Wednesday afternoon at $214.63/cwt. Select was 17¢ higher at $189.83.
Corn futures closed mostly fractionally higher.
Soybean futures closed 3¢ to 5¢ lower through Jul ’20 and then 1¢ to 2¢ lower.