Packers were aggressive buyers Wednesday, pushing negotiated cash fed cattle prices $3-$5/cwt. higher on a live basis with moderate trade and good demand in all regions, according to the Agricultural Marketing Service.
Live prices were mostly $4-$5 higher in the Texas Panhandle at $154-$155, $3-$5 higher in Kansas at $154 to mostly $155, $3 higher in Nebraska at $156-$158 and $2 higher in the western Corn Belt at $155-$157. Dressed prices were $3 higher at $245.
Choice Boxed beef cutout value was $4.07 lower Wednesday afternoon at $252.56/cwt. Select was 85¢ lower at $233.33/cwt.
Higher Corn futures and light holiday trade pressured Cattle futures Wednesday.
Feeder Cattle futures closed an average of $1.66 lower ($1.10 to $2.43 lower).
Live Cattle futures closed an average of 51¢ lower, except for 5¢ higher in the back contract.
Corn futures closed 2¢ to 7¢ higher.
Soybean futures closed 1¢ to 6¢ higher through Nov ‘23 and then 1¢ to 2¢ lower.
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