Negotiated cash fed cattle trade was mostly inactive with light demand in all trading regions through Tuesday afternoon, according to the Agricultural Marketing Service. There were not enough sales for a market trend.
Live prices last week were at $124/cwt. in the Texas Panhandle, at $122-$124 in Kansas, at $122 in Nebraska and at $122-$123 in the western Corn Belt. Dressed prices were $196 in Nebraska and $192-$196 in the western Corn Belt.
Cattle futures received follow-through support Tuesday amid continued oversold conditions and outside support.
Feeder Cattle futures closed an average of $1.37 higher (60¢ higher in Aug ’22 up to $1.85 in nearby Nov.
Live Cattle futures closed an average of 66¢ higher (20¢ at the front of the board to 95¢ at the back) except for nearby Dec, down 20¢.
Choice boxed beef cutout value was $1.47 lower Tuesday afternoon at $287.71/cwt. Select was $2.62 higher at $267.78/cwt.
Corn futures closed 2¢ to 4¢ lower.
Soybean futures closed 7¢ to 15¢ higher.
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