Cattle futures lost steam after early support Tuesday, as grain and soybean futures continued to gain and traders awaited weekly cash direction.

Corn futures closed mostly 3¢ to 6¢ higher. Kansas City Wheat futures closed mostly 9¢ to 11¢ higher. Soybean futures closed 22¢ to 28¢ higher through Aug ‘23.

Feeder Cattle futures closed an average of $1.02 lower (70¢ lower to $1.32 lower).

Live Cattle futures closed an average of 22¢ lower, except for 5¢ higher in Aug and $2.37 higher in new away-Apr.

Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, live prices were $150/cwt. in the Southern Plains and $152-$153 in Nebraska and the western Corn Belt. Dressed prices were $240.

Choice Boxed beef cutout value was $1.02 lower Tuesday afternoon at $262.63/cwt. Select was $1.73 lower at $232.73/cwt.