Negotiated cash fed cattle prices continued to gain ground Wednesday on slow trade and moderate demand, according to the Agricultural Marketing Service.
So far this week, live prices are $1 higher in the Southern Plains at $139/cwt., $2 higher in Nebraska at $140-$142, $3 higher in the western Corn Belt at $143 (a few up to $145) and $2-$4 higher in Colorado at $140-$142.
Dressed prices are $4 higher at $226; a few up to $231.
Choice Boxed beef cutout value was $1.11 lower Wednesday afternoon at $272.36/cwt. Select was $1.34 lower at $259.37.
Cash market strength helped Cattle futures once again.
Live Cattle futures closed an average of 53¢ higher (35¢ to $1.00 higher).
Feeder Cattle futures closed an average of 57¢ higher (30¢ to $1.02 higher).
That was despite Corn futures closing mostly 4¢ to 7¢ higher.
Soybean futures closed 4¢ to 5¢ higher in the front three contracts and then 1¢ to 2¢ lower.
POWERED BY BLUBRRY
