Cattle futures eased higher Wednesday amid chatter that cash fed cattle prices could improve this week.

Toward the close, Live Cattle futures were an average of 91¢ higher. Feeder Cattle futures were an average of $2.17 higher.

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

Last week, FOB live prices were $215-$220/cwt. in the Texas Panhandle, mainly $220 in Kansas, mostly $210 in Nebraska and mainly $208-$210 in the western Corn Belt. Dressed delivered prices were $330 in Nebraska and $328-$330 in the western Corn Belt.

Choice boxed beef cutout value was 91¢ lower Wednesday afternoon at $363.81/cwt. Select was $2.34 higher at $353.12.

Grain and Soybean futures were lower on Wednesday with likely profit taking.

Toward the close and through Jly contracts, Corn futures were mostly 6¢ to 7¢ lower. KC HRW Wheat futures were 3¢ lower. Soybean futures were 8¢ to 10¢ lower.