Steady to firmer cash prices helped Live Cattle futures close an average $1.17 higher on Wednesday (67¢ higher at the back to $1.82 higher in spot Aug).
Negotiated cash fed cattle trade was slow on moderate demand in Nebraska through Wednesday afternoon with live prices at $140-$142/cwt. but mostly $2 higher at $140. Dressed trade there last week was at $225.
Elsewhere, trade ranged from limited on light demand to mostly inactive on light demand with too few to trend.
On Tuesday, live prices were steady at $135 in the Southern Plains and unevenly steady in the western Corn Belt at $143. Dressed prices there last week were $224-$228.
Choice Boxed beef cutout value was 52¢ lower Wednesday afternoon at $267.94/cwt. Select was 25¢ lower at $241.30/cwt.
Recently lower Corn futures and continued cash strength helped boost Feeder Cattle futures an average of $1.62 higher ($1.22 higher at the front to $2.15 higher at the back).
Corn futures firmed Wednesday and closed mostly fractionally higher to 2¢ higher, following the previous session’s steep decline.
Soybean futures closed 11¢ to 16¢ lower, pressured by lower oil prices.
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