Negotiated cash fed cattle trade was limited on light demand in Nebraska and the western Corn Belt through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early live sales in Nebraska at $159/cwt. and a few in the western Corn Belt at $162. Elsewhere, trade was at a standstill.
Live prices last week were $160/cwt. in the Texas Panhandle, $160-$161 in Kansas, $157-$160 in Nebraska and $160 in the western Corn Belt. Dressed prices were $254.
Choice boxed beef cutout value was $3.61 higher Wednesday afternoon at $275.67/cwt. Select was $2.41 higher at $261.19/cwt.
Weaker Corn futures helped Feeder Cattle futures gain marginally, closing an average of 36¢ higher.
Live Cattle futures continued sideways, closing narrowly mixed, from an average of 6¢ lower to an average of 7¢ higher,
Grain and Soybean futures weakened Wednesday with pressure including positive harvest weather in South America.
Corn futures closed 2¢ to 6¢ lower through Jly ‘24 and then mostly unchanged to fractionally lower.
KC HRW Wheat closed 9¢ to 12¢ lower.
Soybean futures closed mostly 4¢ to 8¢ lower.
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