Cattle futures were higher Wednesday, helped by early cash fed cattle bids on the upper end of last week’s range.

Toward the close, Live Cattle futures were an average of $1.10 higher. Feeder Cattle futures were an average of $2.93 higher.

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

Last week, FOB live prices were $234-$236/cwt. in the Texas Panhandle, $233-$236 in Kansas, $234-$236 in Nebraska and mainly $235 in the western Corn Belt.

Dressed delivered prices were $370 in Nebraska and $365-$370 in the western Corn Belt.

Choice boxed beef cutout value was $1.63 higher Wednesday afternoon at $369.74/cwt. Select was $1.62 lower at $363.57.

Grain and Soybean futures were higher Wednesday, helped along by the declining U.S. dollar value.

Toward the close, through near Sep contracts, Corn futures were 3¢ to 4¢ higher, supported by President Trump’s claim that a deal is near for making gasolene blended with ethanol available year-round.

KC HRW Wheat futures were 9¢ higher with likely short covering.

Soybean futures were 6¢ to 8¢ higher.