Cattle futures extended gains Wednesday with help from higher cash fed cattle prices, albeit in limited trade.
Feeder Cattle futures closed an average of 53¢ higher.
Live Cattle futures closed an average of 61¢ higher.
Negotiated cash fed cattle trade was moderate on moderate demand in Kansas through Wednesday afternoon, according to the Agricultural Marketing Service. FOB live prices were $1 higher at $174/cwt.
Elsewhere, trade was mostly inactive on light demand. FOB live prices last week were $173.50/cwt. in the Texas Panhandle, $173 in Nebraska and $175 in the western Corn Belt. Dressed delivered prices were $273-$274.
Choice boxed beef cutout value was $2.16 lower Wednesday afternoon at $299.50/cwt. Select was $1.14 lower at $287.24/cwt.
Corn futures closed 4¢ to 5¢ higher.
KC HRW Wheat futures closed mostly 8¢ to 9¢ higher.
Soybean futures closed mostly 1¢ higher after Sep ’24.
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