Cattle futures tumbled Tuesday on new that Bovine Influenza A virus (BIAV) was confirmed in Colorado dairy cows and chatter that USDA was testing ground beef for particles of the virus in states where BIAV had been confirmed.
Live Cattle futures closed an average of $2.21 lower.
Feeder Cattle futures closed an average of $4.12 lower.
Negotiated cash fed cattle trade in the Southern Plains and Nebraska was at a standstill through Tuesday afternoon, according to the Agricultural Marketing Service. In the Western Corn belt, trade was slow on light demand. The most recent market in that region was Monday with live FOB purchases at $185/cwt. Last week dressed delivered purchases traded at $294 on a light test.
Last week, FOB live prices were steady in the Southern Plains at $182/cwt., mostly $1-$2 higher in Nebraska at $184-$185 and steady to $2 higher in the western Corn Belt at $184-$186. Dressed delivered prices were $2 higher at $294-$295 in Nebraska and $294 in the western Corn Belt.
Choice boxed beef cutout value was $3.16 lower Tuesday afternoon at $294.37/cwt. Select was 26¢ lower at $289.95/cwt.
KC HRW Wheat futures closed 6¢ to 21¢ lower.
Corn futures closed mostly 1¢ to 2¢ lower.
Soybean futures closed 15¢ to 22¢ lower.
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