Cattle futures rose Wednesday as fundamental strength returned.
Feeder Cattle futures closed an average of $1.52 higher (57¢ higher at the back to $2.12 higher toward the front).
Live Cattle futures closed an average of 46¢ higher.
Negotiated cash fed cattle trade was limited on light demand in all major cattle feeding regions through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Live prices last week were $143/cwt. in the Southern Plains and $145 in Nebraska and the western Corn Belt. Dressed prices were $228.
Choice Boxed beef cutout value was 98¢ lower Wednesday afternoon at $247.06/cwt. Select was $2.69 lower at $219.22.
Corn futures closed 1¢ to 2¢ higher.
Soybean futures closed 10¢ to 13¢ lower through Sep ‘23 and then mostly 7¢ lower.
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