Cattle futures softened Wednesday with pressure including the lack of weekly cash direction and a sharp decline in wholesale beef values.
Heading into the close, Live Cattle futures were an average of 67¢ lower. Feeder Cattle futures were narrowly mixed from an average of 44¢ lower to an average of 11¢ higher.
Negotiated cash fed cattle trade ranged from inactive on very light demand to a standstill through Wednesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183/cwt. in the Texas Panhandle $183-$184 in Kansas, $184 in Nebraska and $184-$188 in the western Corn Belt. Dressed delivered prices were $293-$295.
Choice boxed beef cutout value was $4.68 lower Wednesday afternoon, at $307.29/cwt. Select was $2.62 lower at $297.63.
Grain futures were mixed Wednesday.
Toward the close and through Jly ’25 contracts, Corn futures were 2¢ lower. Kansas City Wheat futures were 7¢ to 11¢ higher on apparent short covering. Soybean futures were 7¢ to 10¢ lower.
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