Episode Details

Cattle futures gained traction on Wednesday, as traders move past recent bearish news.

Toward the close, Live Cattle futures were an average of $1.71 higher. Feeder Cattle futures were an average of $3.18 higher.

Negotiated cash fed cattle trade was inactive on light demand in all cattle feeding regions through Wednesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $230-$231/cwt. in Kansas and mostly $230 in the North. Dressed delivered prices were $365.

Choice boxed beef cutout value was $2.43 lower Wednesday afternoon at $363.43. Select was $1.11 lower at $342.41.

Soybean futures led the grain complex lower Wednesday, pressured by a wetter forecast.

Toward the close and through the front four contracts, Soybean futures were 28¢ to 35¢ lower. Kansas City HRW Wheat futures were fractionally lower to 2¢ lower. Corn futures were 9¢ to 10¢ lower.