Cattle futures closed higher Wednesday with prospects of higher cash trade again this week.
Live Cattle futures closed an average of $1.42 higher ($1.17 to $2.10 higher) amid heavy volume.
Feeder Cattle futures closed an average of $1.84 higher ($1.30 higher at the front to $2.17 higher at the back).
Negotiated cash fed cattle trade was at a standstill through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $185-$186/cwt. Dressed delivered prices were $292-$300 in Nebraska and $292 in the western Corn Belt.
Choice boxed beef cutout value was 77¢ lower Wednesday afternoon at $309.82/cwt. Select was $1.44 higher at $301.04/cwt.
Corn futures closed mostly fractionally higher.
KC HRW Wheat futures closed 4¢ to 9¢ lower.
Soybean futures closed mostly fractionally lower to 1¢ lower.
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