Cattle futures paused and retraced Tuesday following the previous day’s gains and awaiting cash direction.
Feeder Cattle futures closed an average of $1.72 lower ($1.35 to $2.90 lower).
Live Cattle futures closed an average of 45¢ lower (35¢ to 80¢ lower).
Negotiated cash fed cattle trade was at a standstill through Wednesday afternoon in the Southern Plains and Nebraska, according to the Agricultural Marketing Service. In the Western Corn Belt, trading was inactive on very light demand with too few trades for a trend.
Last week, live prices were $156/cwt. in the Southern Plains, $153-$156 in Nebraska and $152-$157 in the western Corn Belt. Dressed prices were $248.
Choice boxed beef cutout value was $1.02 lower Wednesday afternoon at $265.07/cwt. Select was 14¢ lower at $252.78/cwt.
Corn futures closed mostly 1¢ to 5¢ higher.
KC HRW Wheat closed mostly 3¢ to 5¢ higher through May ’24 and then mostly 2¢ lower
Soybean futures closed fractionally lower to 17¢ lower through Jan’24, then mixed.
POWERED BY BLUBRRY
