Cattle futures were mostly able to hold the previous session’s gains on Tuesday after early pressure tied to declining outside markets.
Toward the close, Live Cattle futures were an average of 64¢ higher. Feeder Cattle futures were narrowly mixed, from unchanged to an average of 72¢ lower in three contracts (2¢ to $1.97 lower) and then an average of 26¢ 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 $244/cwt. in the Southern Plains, $239-$243 in Nebraska and mainly $243 in the western Corn Belt. Dressed delivered prices were mainly $383 in Nebraska and $382-$383 on a light test in the western Corn Belt.
Choice boxed beef cutout value was $6.71 higher Tuesday afternoon at $388.05/cwt. Select was 37¢ higher at $378.58.
Grain and Soybean futures trended higher Tuesday, as traders digested the U.S.-Israel attack on Iran.
Toward the close, and through near Sep contracts, Kansas City HRW Wheat futures were 3¢ to 5¢ higher. Corn futures were fractionally higher to 1¢ higher. Soybean futures were 4¢ to 7¢ higher.
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Major U.S. financial indices closed lower Tuesday as Crude Oil futures continued higher in response the U.S.-Israel attacks against Iran.
The Dow Jones Industrial Average closed 403 points lower. The S&P 500 closed 64 points lower. The NASDAQ was down 232 points.
West Texas Intermediate Crude Oil futures (CME) were $1.15 to $3.78 higher through the front six contracts.
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Agricultural producer sentiment improved slightly in February, according to the Purdue University/CME Group Ag Economy Barometer. The overall index increased 3 points from January to a reading of 116. The Current Conditions Index climbed 11 points, while the Future Expectations Index slipped by 1 point and fell to its lowest level since September 2024. The survey was conducted Feb. 2-6.
“Although producers reported stronger current conditions in February, the overall survey sentiment suggests farmers are carefully weighing short-term stability against longer-term uncertainty,” says Michael Langemeier, the barometer’s principal investigator and director of Purdue’s Center for Commercial Agriculture. “Many operations are still feeling financial pressure compared to a year ago, which is evident in their cautious investment strategies and a more reserved outlook for the coming year.”
Approximately 44% of respondents said their farm operations were worse off in February than a year earlier. Looking ahead, producers remained cautious about their financial outlook, with 29% expecting their farm’s financial performance to worsen over the next 12 months, compared to 18% who anticipated an improvement.
Producers’ views on the broader direction of the U.S. economy weakened slightly for the second consecutive month; the percentage who indicated the U.S. is headed in the “right direction” declined from 62% in January to 59% in February.
Since 2016, the February barometer survey has included questions about producers’ long-term growth plans. This year, approximately 15% of respondents said they plan to reduce the size of their operation, while 34% reported no plans to grow. By contrast, 51% indicated they expect to expand their farms over the next five years, including 14% who plan to increase their operation’s size by 10% or more. The survey also found that 36% of producers plan to bring another family member into the business during the next five years, signaling a continued emphasis on expansion and succession planning despite ongoing financial concerns.