Beef contracts gained at the start prodded by residual buying, April's oversold chart situation and buy stops after spot-April and nearby-June moved beyond Tuesday's highs. Also, ideas about this week's potential cash sales contributed to spot-April advances.

Live-basis cash cattle bids on Wednesday were quoted at $88 to $89 versus $93 to $94 asking prices.

Meanwhile, cattle pit-bulls defended back-month live cattle positions on the open in spite of CBOT corn's overnight retreat.

Nonetheless, April's upward momentum at times sputtered due to lower midday boxed beef values and periodic migration by longs out of April into June on the eve of the last day of the Goldman roll.

The U.S. Department of Agriculture's Wednesday midday boxed beef wire showed choice cuts fell $2.26 per hundredweight and select cuts dropped $0.47.

Source: FXSTREET