The previous session’s soft rally proved to be another false start as Cattle futures unraveled Wednesday with pressure from eroding Choice wholesale beef values and declining negotiated cash fed cattle prices.
Feeder Cattle futures closed an average of $5.36 lower.
Live Cattle futures closed an average of $3.79 lower ($3.07 to $5.42 lower).
Negotiated cash fed cattle trade ranged from moderate on moderate demand in Kansas to slow on light demand in all other regions, through Wednesday afternoon, according to the Agricultural Marketing Service.
So far this week, FOB live prices are $3-$4 lower in the Southern Plains at $171/cwt. Dressed delivered prices are $4 lower in Nebraska at $271.
Last week, dressed delivered prices were $174-$175 in Nebraska and $173-$175 in the western Corn Belt. Dressed delivered prices in the western Corn Belt were $274-$275.
Choice boxed beef cutout value was $3.19 lower Wednesday afternoon at $290.56/cwt. Select was 77¢ higher at $259.90/cwt.
Corn futures closed mostly 3¢ to 6¢ lower.
Kansas City Wheat futures closed 6¢ to 9¢ lower.
Soybean futures closed 10¢ to 14¢ lower through Aug ’25 and then 6¢ to 7¢ lower.
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