Cattle futures were firm in the deferred contracts Wednesday but weak up front with pressure from lower cash fed cattle prices.

Toward the close, Live Cattle futures were an average of 60¢ higher, except for an average of 38¢ lower in the front two contracts. Feeder Cattle futures were mixed, from an average of $1.02 lower in the front five contracts to an average of $1.16 higher.

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

So far this week, FOB live prices are $2-$5 lower at $230/cwt. in Nebraska, where dressed delivered prices are $5 lower at $360.

Last week, FOB live prices were $237/cwt. in the Texas Panhandle, $235-$237 in Kansas and mostly $232 in the western Corn Belt, where dressed delivered prices were $365.

Choice boxed beef cutout value was $2.56 lower Wednesday afternoon at $368.47/cwt. Select was 36¢ lower at $346.89.

Grain and Soybean futures were mixed Wednesday.

Toward the close and through Jly contracts, Corn futures were 2¢ higher. KC HRW Wheat were 1¢ to 2¢ lower. Soybean futures were 12¢ to 13¢ higher.