Manage episode 302915364 series 2283087
Negotiated cash fed cattle trade was slow with moderate demand in Kansas and Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service.
Live prices were steady in Kansas at $123-$124/cwt., but $1 lower in Nebraska at $124. Dressed trade in Nebraska was $2 lower at $198.
Trade was limited on light demand in other regions. A light test brought steady money of $124 in the Texas Panhandle. Live sales in the western Corn Belt last week were $123-$124; dressed sales were $196-$200.
Higher outside markets and potential positioning ahead of Friday’s Cattle on Feed report helped lift Cattle futures Wednesday.
Feeder Cattle futures closed an average of $1.09 higher (87¢ to $1.27 higher) except for 5¢ lower in spot Sep.
Live Cattle futures closed an average of $1.02 higher (65¢ to $1.30 higher).
Choice boxed beef cutout value was $3.54 lower Wednesday afternoon at $307.83/cwt. Select was $2.51 lower at $275.50.
Corn futures closed 7¢ to 8¢ higher through new-crop contracts and then mostly 1¢ to 3¢ higher.
Soybean futures closed 6¢ to 9¢ higher through the front six contracts and then mostly 1¢ to 4¢ higher.