Cattle futures lost some steam Tuesday but were mostly higher.
Live Cattle futures were narrowly mixed, from an average of 41¢ lower in the front four contracts to an average of 38¢ higher.
Feeder Cattle futures were an average of 64¢ higher, except for 78¢ lower in the front contract.
Negotiated cash fed cattle trade was mostly inactive on light demand through Tuesday afternoon, according to the agricultural Marketing Service.
FOB live prices last week were mostly $235/cwt. Dressed delivered prices were mostly $370.
Choice boxed beef cutout value was 6¢ lower Tuesday afternoon at $371.31/cwt. Select was $1.04 lower at $349.80.
Grain and Soybean futures were lower on Tuesday, pressured by more moisture and positioning ahead of Wednesday’s World Agricultural Supply and Demand Estimates.
Toward the close and through the front four contracts, Corn futures were 1¢ lower. Soybean futures were 10¢ to 11¢ lower. Kansas City HRW Wheat were 12¢ to 14¢ lower.
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