Negotiated cash fed cattle trade and demand were light to moderate in the Southern Plains through Tuesday afternoon with live prices $2 lower at $138/cwt.
In Nebraska, there were a few dressed sales at $226-$227 on slow trade and light demand, but too few to trend. Last week live prices were $144 and dressed prices were $230.
Elsewhere, trade was mostly inactive on light demand, according to the Agricultural Marketing Service. Live prices in the western Corn Belt Monday were $2-$3 lower at $142. Dressed prices last week were $227-$230. Live prices in Colorado last week were $140-$144.
Softer cash prices pressured Feeder Cattle an average of 75¢ lower despite the tiny respite in Corn futures.
Grain and Soybean futures closed mostly higher, though with KC Wheat up another 15¢ to 20¢.
Corn futures closed mixed, mainly 4¢ lower to 2¢ higher, starting with new-crop contracts.
Soybean futures closed mostly 17¢ to 20¢ higher.
Recently higher wholesale beef prices helped cap losses in Live Cattle futures, which closed an average of 44¢ lower, except for 27¢ higher in away Aug.
Choice Boxed beef cutout value was 17¢ higher Tuesday afternoon at $260.48/cwt. Select was $2.52 higher at $248.19.