Cattle futures closed mostly a touch lower Tuesday but off of session lows as traders await this week’s cash fed cattle direction.
Toward the close, Live Cattle futures were an average of 33¢ lower, except for an average of 56¢ higher in the front two contracts.
Feeder Cattle futures were an average of 36¢ lower, except for 25¢ higher in spot Mar.
Negotiated cash fed cattle trade was mostly inactive on very light demand in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
FOB live prices last week were $210/cwt. in the Southern Plains and $212-$215 in the North. Dressed delivered prices were $335.
Choice boxed beef cutout value was $8.09 higher Tuesday afternoon at $335.19/cwt. Select was 47¢ higher at $324.05.
Grain and Soybean futures were lower Tuesday. Apparently, pressure included increased trader wariness regarding the U.S. Trade Representative’s (USTR) recent proposal to impose new, steep levies on Chinese-built and operated ocean carries arriving at U.S. ports, which would likely disrupt trade and decrease domestic price competitiveness in the global market.
Toward the close and through Sep ’25 contracts, Corn futures were 3¢ to 6¢ lower. Kansas City Wheat futures were 6¢ to 7¢ lower. Soybean futures were fractionally higher to 5¢ lower.
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