Negotiated cash fed cattle trade was slow on light demand through Wednesday afternoon, according to the Agricultural Marketing Service.
Live prices were steady to $1 higher in the Texas Panhandle at $150.00/cwt. and steady in Kansas at $150.
Last week, live prices were $153 in Nebraska and the western Corn Belt. Dressed prices were $242 in Nebraska and $240-$242 in the western Corn Belt.
Choice Boxed beef cutout value was 27¢ lower Wednesday afternoon at $264.67/cwt. Select was 83¢ lower at $235.22/cwt.
Lower outside markets helped pressure Cattle futures on Wednesday.
Feeder Cattle futures closed an average of 24¢ lower, except for an average of 11¢ higher in the back two contracts.
Live Cattle futures closed an average of 49¢ lower (20¢ to $1.47 lower).
Corn futures closed mostly 3¢ to 5¢ lower.
Soybean futures closed mostly 3¢ to 5¢ higher through Jly ‘23 and then mostly fractionally lower to 1¢ lower.
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