Cattle futures gained on Tuesday, led once again by Feeder Cattle.
Toward the close, Live Cattle futures were an average $1.73 higher. Feeder Cattle futures were an average of $2.88 higher.
Negotiated cash fed cattle trade was inactive on light demand in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $229/cwt. in Kansas, $230 in Nebraska and $228-$230 in the western Corn Belt.
Dressed delivered prices were mostly $356 in Nebraska and $356-$358 in the western Corn.
Choice boxed beef cutout value was $1.13 lower Tuesday afternoon at $348.20/cwt. Select was $2.46 lower at $343.16.
Grain and Soybean futures continued lower on Tuesday with the positive outlook for a bumper crop in Brazil and year-end positioning.
Toward the close, through near Jly contracts, Corn futures were 1¢ to 2¢ lower. KC HRW Wheat futures were 6¢ lower. Soybean futures were 2¢ to 5¢ lower.
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Major U.S. financial indices edged lower Tuesday.
The Dow Jones Industrial Average closed 94 points lower. The S&P 500 closed 9 points lower, and the NASDAQ was down 55 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 6¢ to 13¢ lower through the front six contracts.