Cattle futures were higher Wednesday, buoyed by stronger wholesale beef values and outside markets.

Toward the close, Live Cattle futures were an average of $2.61 higher. Feeder Cattle futures were an average of $4.42 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 $260/cwt. in the Texas Panhandle, $259-$260 in Kansas, $258-$265 in Nebraska and mostly $260 in the western Corn Belt. Dressed delivered prices were $408-$410 in Nebraska and mostly $410 in the western Corn Belt.

Choice boxed beef cutout value was $1.82 higher Wednesday afternoon at $394.72/cwt. Select was $1.01 lower at $389.29.

Grain futures closed lower Wednesday, as Crude Oil prices continued to retreat.

Toward the close, and through near Mar contracts, Corn futures were 4¢ to 5¢ lower. Soybean futures were fractionally lower to 1¢ higher. Kansas City HRW Wheat futures were 8¢ to 9¢ lower.