Negotiated cash fed cattle trade was moderate to active on good demand in the Southern Plains through Wednesday afternoon, according to the Agricultural Market Service, with live prices $1 lower at $163/cwt.
Trade was moderate on good demand in Nebraska where live prices were steady at $164 and dressed prices were $1 higher at $265.
In the western Corn Belt, trade was slow on moderate demand. Although too few to trend, early live sales were $165.00-$165.50 and early dressed sales were $265. Prices there last week were $164-$165 and mostly $264, respectively.
Choice boxed beef cutout value was $1.38 higher Wednesday afternoon at $281.30/cwt. Select was $1.73 lower at $269.82/cwt.
Futures traders continued their commodities selling mode Wednesday with bearish outside markets.
Feeder Cattle futures closed an average of 51¢ lower.
Live Cattle futures closed an average of 39¢ lower.
Corn futures closed mostly 1¢ to 3¢ lower through Jly ‘24 and then mostly fractionally higher.
KC HRW Wheat closed 7¢ to 12¢ lower.
Soybean futures closed mostly 18¢ to 25¢ lower.
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