Cattle futures struggled to a narrowly mixed close Wednesday, pressured by lower outside markets and falling wholesale beef values through much of the session. Stronger cash fed cattle prices added support later.
Feeder Cattle futures closed mixed, from an average of 19¢ lower to an average of 43¢ higher.
Live Cattle futures closed mixed, from an average of 12¢ lower in three contracts to an average of 25¢ higher.
Negotiated cash fed cattle trade was slow on light demand in the North through Wednesday afternoon, according to the Agricultural Marketing Service.
FOB live prices were $2-$3 higher in Nebraska at $175/cwt., where dressed delivered prices were $2 higher at $275.
FOB live prices in the western Corn Belt were $3 higher at $175. Dressed delivered prices there last week were $273.
Trade was at a standstill in the Southern Plains where FOB live prices last week were $172.
Choice boxed beef cutout value was $6.31 lower Wednesday afternoon at 278.03/cwt. Select was 1¢ lower at $258.85/cwt.
Corn futures closed mostly fractionally mixed to 1¢ higher.
KC HRW Wheat futures closed 4¢ to 7¢ lower through May ’25 and then 1¢ higher.
Soybean futures closed mostly 1¢ to 4¢ higher.
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