Cattle futures were lower Wednesday as wholesale beef values weakened, outside markets turned negative, and perhaps with some early positioning ahead of Friday’s Cattle on Feed report.

Toward the close, Feeder Cattle futures were an average of 72¢ lower. Live Cattle futures were an average of 79¢ lower.

Negotiated cash fed cattle trade ranged from light on light demand in Nebraska to inactive on very light demand elsewhere through Wednesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.

Last week, FOB live prices were $191-$192/cwt. in the Texas Panhandle, $191 in Kansas, $195 in Nebraska and $193-$196 in the western Corn Belt. Dressed delivered prices were $300-$305.

Choice boxed beef cutout value was 79¢ lower Wednesday afternoon at $314.84/cwt. Select was $2.95 lower at $285.55.

Grain and Soybean were lower again on Wednesday, once again led by Soybeans.

Toward the close and through Sep ’25 contracts, Corn futures were 5¢ to 6¢ lower. Kansas City Wheat futures were 3¢ to 4¢ lower. Soybean futures were 24¢ to 26¢ lower.