Toward the close, Live Cattle futures were an average of $5.33 higher. Feeder Cattle futures were an average of $8.57 higher.

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

So far this week, FOB live prices are mostly $230/cwt. in the North and dressed delivered trades in Nebraska are $355-$360.

Last week, FOB live prices in the Southern Plains were $238. Dressed delivered prices in the western Corn Belt last week were $372 in a light test.

Choice boxed beef cutout value was $1.73 higher Wednesday afternoon at $381.28/cwt. Select was $1.79 higher at $361.79.

Profit taking from recent gains seemed to be the order of the day in the grain complex on Wednesday.

Toward the close and through Jly contracts, Corn futures were unchanged to 2¢ higher. KC HRW Wheat mixed, from 1¢ lower to 3¢ higher. Soybean futures were mostly 2¢ lower.