Live Cattle futures firmed and clawed higher Wednesday, while all but the front months drifted lower in Feeder Cattle.

Toward the close, Live cattle futures were an average of $1.21 higher. Feeder Cattle futures were an average of $1.40 lower, except for an average of $1.06 higher in the front two contracts.  

Negotiated cash fed cattle trade ranged from inactive on light demand in the Southern Plains to limited on moderate demand in the North through Wednesday afternoon, according to the Agricultural Marketing Service.

For the week, FOB live prices are mostly $2-$3 lower in the western Corn Belt at mostly $240/cwt. and dressed delivered prices are $8 lower in Nebraska at $375.

Last week, FOB live prices were $242/cwt. in the Texas Panhandle and $242-$243 in Kansas and Nebraska. Dressed delivered prices were mainly $383 in the western Corn Belt.

Choice boxed beef cutout value was $2.03 lower Wednesday afternoon at $405.64. Select was $3.28 lower at $383.68.

Grain and Soybean futures were lower again Wednesday with likely continued positioning ahead of Friday’s monthly World Agricultural Supply and Demand Estimates. 

Toward the close and through away Jly contracts, Corn futures were 2¢ to 3¢ lower. Kansas City Wheat futures were 3¢ to 4¢ lower, except for 2¢ higher in waning spot Sep. Soybean futures were mostly 5¢ to 6¢ lower.