Negotiated cash fed cattle trade was limited on light demand in Nebraska and the western Corn Belt through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service. So far this week live prices in those regions are at $140/cwt., which is $5 higher in Nebraska and $2 higher in the western Corn Belt. Dressed prices of $220-$222 are $3-$4 higher in Nebraska and $3-$5 higher in the western Corn Belt.
Trade in the Southern Plains was at a standstill. Live prices there last were $135.
Cattle futures, especially Feeder Cattle, climbed higher Wednesday, buoyed by cash market gains and higher wholesale beef prices.
Feeder Cattle futures closed an average of $1.79 higher (97¢ to $2.82 higher with most strength in the front months).
Live Cattle futures closed an average of $1.01 higher (65¢ higher to $1.37 higher).
Choice boxed beef cutout value was $1.05 higher Wednesday afternoon at $265.71/cwt. Select was $1.00 higher at $257.09/cwt.
Corn futures closed mostly 2¢ to 4¢ higher after fractionally mixed in the front three contracts.
Soybean futures closed mostly 2¢ to 8¢ higher through Jan ‘23 and then 6¢ to 13¢ higher.
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