Negotiated cash fed cattle was slow on light demand in the Southern Plains through Wednesday afternoon, where a light test brought steady money with last week at $175/cwt. on a live basis.
Elsewhere, trade ranged from limited on light demand to a standstill with too few transactions to trend, according to the Agricultural Marketing Service
Live prices last week were $182-$184 in Nebraska and $180-$184 in the western Corn Belt. Dressed prices were $290.
Choice boxed beef cutout value was $1.14 lower Wednesday afternoon at $305.92/cwt. Select was 15¢ lower at $291.46/cwt.
Cattle futures mostly softened Wednesday, with consolidation and awaiting weekly cash fed cattle trade.
Feeder Cattle futures closed an average of 41¢ lower (2¢ lower at the back to $1.25 lower at the front), except for 70¢ and 25¢ higher in Aug and Sep, respectively.
Live Cattle futures closed an average of 87¢ lower (25¢ lower at the back to $1.60 lower toward the front).
Grain futures were pressured Wednesday by Poland’s announcement to allow grain to flow through its country from Ukraine, while maintaining its closure to grain purchases from that nation.
Corn futures closed mostly 3¢ to 8¢ lower.
KC HRW Wheat closed 14¢ to 19¢ lower.
Soybean futures closed 8¢ to 12¢ lower through Sep ‘24 and then 4¢ to 6¢ lower.
POWERED BY BLUBRRY
