Episode Details

Cattle futures were narrowly mixed Wednesday with traders awaiting more negotiated cash fed direction.

Toward the close, Live Cattle futures were an average of 29¢ higher, except for an average of 39¢ lower in two contracts.

Feeder Cattle futures were narrowly mixed, from an average of 29¢ lower through the front half of the board to an average of 43¢ higher.

Negotiated cash fed cattle trade was light on moderate demand in Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service. Early dressed delivered trades were $5 lower at $403/cwt. Last week, FOB live prices in the region were $258-$260.

Elsewhere, trade remained unestablished.

Last week, FOB live prices were $258 in the Southern Plains and mostly $260 in the western Corn Belt, where dressed delivered prices were $408.

Choice boxed beef cutout value was $1.90 lower Wednesday afternoon at $391.26/cwt. Select was $1.99 lower at $369.69.

Grain and Soybean futures were higher Wednesday with follow-through support from USDA’s Acreage and Grain Stocks reports.

Toward the close, and through near Mar contracts, Corn futures were 7¢ to 9¢ higher. Soybean futures were 3¢ to 9¢ higher. Kansas City HRW Wheat futures were 8¢ to 12¢ higher.