Cattle futures powered upward Wednesday, helped along by another bounce in wholesale beef values and growing expectations of steady to higher cash fed cattle trade again this week.

Toward the close, Live cattle futures were an average of $2.04 higher. Feeder Cattle futures were an average of $3.91 higher.

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

Last week, FOB live prices were $235/cwt. in the Texas Panhandle, $235-$236 in Kansas, $245-$247 in Nebraska and mostly $245 in the western Corn Belt. Dressed delivered prices were mostly $383.

Choice boxed beef cutout value was $4.92 higher Wednesday afternoon at $374.86. Select was $5.42 higher at $351.36.

Turning toward the gain complex,

Toward the close and through away Jly contracts, Corn futures were another 3¢ to 5¢ lower as traders bet on a behemoth crop. Kansas City Wheat futures were 6¢ to 7¢ higher. Soybean futures were 5¢ to 7¢ lower.