Live and feeder cattle fell lower Wednesday, down for the second consecutive day as boxed beef also took a hit.
Live cattle moved 83 cents lower to finish the day at $121.30. The lower close move live cattle just six cents above the 27-day average. Feeder cattle decreased by $1.57 to close at $150.98. Feeders have fallen for two consecutive days after reaching a 27-day high on Monday.
Corn prices have remained fairly steady this week after losing $1.71 last Friday. Corn prices dropped six cents Wednesday, sitting only 3 cents above the 27-day low which was set on Monday.
The Choice/Select Spread narrowed by 19 cents to $6.12 as select cuts remain unchanged at $184.35, but choice cuts fell 19 cents to $190.47.