Cattle futures took a breather on Wednesday with likely profit taking and positioning ahead of Friday’s Cattle on Feed report.

Toward the close, Live Cattle futures were an average of 41¢ lower, except for 62¢ higher in spot Jun. Feeder Cattle futures were an average of 68¢ higher.

Negotiated cash fed cattle trade was mostly 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 $255-$256/cwt. in the Texas Panhandle, mostly $256 in Kansas and $255-$258 in the North. Dressed delivered prices were $403-$405.

Choice boxed beef cutout value was $5.08 lower Wednesday afternoon at $394.50/cwt. Select was 41¢ higher at $377.26.

Grain and Soybean futures were higher on Wednesday.

Toward the close, and through near Mar contracts, Corn futures were mostly 6¢ to 7¢ higher. Soybean futures were mostly 3¢ to 4¢ higher. Kansas City HRW Wheat futures were 18¢ to 19¢ higher.