Negotiated cash fed cattle trade was again at a standstill in the Southern Plains and Nebraska through Tuesday afternoon, according to the Agricultural Marketing Service. In the Western Corn Belt, trading was still mostly inactive on light demand.
Last week in the Texas Panhandle, live sales traded from $121 to $122. In Kansas, live sales traded at $121. In Nebraska live sales traded at $125 and dressed at $198. In the Western Corn Belt, live sales were at $125-$126 and dressed at $198.
Cattle futures firmed after early pressure to close higher Tuesday, helped along by the extraordinary run in wholesale beef prices.
Live Cattle futures closed an average of 40¢ higher (3¢ to 65¢).
Feeder Cattle futures closed an average of 34¢ higher, except for 15¢ lower in Sept.
Corn futures closed fractionally lower to 4¢ lower through the front six contracts.
Soybean futures closed 6¢ to 7¢ higher in the front six contracts, except for 14¢ higher in Spot Aug.
Major U.S. financial indices closed mixed on Tuesday, with support including Senate passage of the trillion-dollar infrastructure bill.
The Dow Jones Industrial Average closed 163 points higher. The S&P 500 closed 4 points higher. The NASDAQ was up 72 points.
The massive $1 trillion infrastructure bill took a long step toward fruition Tuesday with Senate passage.
According to a statement from Agriculture Secretary Tom Vilsack, “Rural America stands to benefit from this historic long-term investment in our infrastructure and economic competitiveness. From tackling some of the greatest challenges we face today, to making long-term investments in the rural areas that are the heart of our nation, the Bipartisan Infrastructure Investment and Jobs Act will ensure we build back better, stronger, and more resilient and equitable than ever before.”
If passed, Secretary Vilsack says the legislation will deliver broadband to rural homes, communities and businesses across the country, as well as increasing access to jobs, education, health care, banking, and markets for farmers and rural small businesses.
“It also upgrades our power infrastructure, improves drinking water, and connects rural communities through upgraded roads and bridges,” he says.
The bill now goes to the House for consideration.