Stronger cash fed cattle prices and the recent surge in wholesale beef value helped drive Cattle futures higher on Wednesday.

Toward the close, Live cattle futures were an average of $2.92 higher. Feeder Cattle futures were an average of $5.97 higher.

Negotiated cash fed cattle trade was moderate on moderate demand in Nebraska through Wednesday afternoon, according to the Agricultural Marketing Service. FOB live prices were steady to $2 higher at $245/cwt. Dressed delivered prices were $5-$7 higher at $385-$392.

Trade in the western Corn Belt was light on moderate to good demand. FOB live prices were steady to $5 higher at $245. Dressed delivered prices there last week were $380-$385.

In the Southern Plains, trade was mostly inactive on moderate demand. FOB live prices in Kansas last week were $235, the same as in the Texas Panhandle the previous week.

Choice boxed beef cutout value was $1.35 lower Wednesday afternoon at $405.85. Select was $3.40 higher at $383.16.

Grain and Soybean futures were narrowly mixed Wednesday.

Toward the close and through Jly contracts, Corn futures were fractionally higher to 1¢ higher. Kansas City Wheat futures were mostly fractionally mixed. Soybean futures were 1¢ higher.