Live Cattle futures were an average of 23¢ lower, except for an average of 24¢ higher in three contracts, with pressure from early cash weakness in the South.

Feeder Cattle futures were an average of $1.23 lower, pressured by lower Live Cattle and higher Corn.

Negotiated cash fed cattle trade ranged from slow on light demand in Kansas to a standstill elsewhere through Wednesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early live FOB trades in Kansas at $180/cwt.

Last week, FOB live prices were $183 in the Texas Panhandle, $182-$183 in Kansas, $184 in Nebraska and $183-$185 in the western Corn Belt. Dressed delivered prices were $288-$292.

Choice boxed beef cutout value was 93¢ higher Wednesday afternoon, at $311.60/cwt. Select was 72¢ lower at $299.39.

Grain and Soybean futures continued to rally Wednesday with likely short covering and thoughts forecast yield increases might be less than expected.

Toward the close and through Jly ’25 contracts, Corn futures were 3¢ to 5¢ higher. Kansas City Wheat futures were 15¢ to 16¢ higher. Soybean futures were mostly 8¢ to 9¢ higher.