Cattle futures were higher Tuesday on fundamental strength and more bullish outside markets. Reports of early steady to higher cash fed cattle prices were also supportive.
Toward the close, Live Cattle futures were an average of $2.42 higher. Feeder Cattle futures were an average of $4.88 higher.
Negotiated cash fed cattle trade was mostly inactive on light to moderate demand in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $252-$257/cwt. in Nebraska and mostly $255 elsewhere. Dressed delivered prices were mostly $400.
Choice boxed beef cutout value was 78¢ higher Tuesday afternoon at $392.34/cwt. Select was $1.64 higher at $392.24.
Grain and Soybean futures trended lower on Tuesday with likely profit taking, producer selling and lower Crude Oil prices.
Toward the close, and through near Dec contracts, Kansas City HRW Wheat futures were 3¢ to 9¢ lower. Corn futures were 4¢ to 8¢ lower. Soybean futures were 8¢ to 13¢ lower through near Nov.
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Major U.S. financial indices closed higher Tuesday, as Crude Oil prices cooled and quarterly corporate earnings reports continued to be mostly positive.
The Dow Jones Industrial Average closed 365 points higher. The S&P 500 closed 58 points higher. The NASDAQ was up 258 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $1.79 to $3.84 lower through the front six contracts.
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Producer sentiment declined in April as concerns about rising input costs, tighter availability and global instability continued to weigh on the agricultural outlook, according to the Purdue University-CME Group Ag Economy Barometer.
The overall index was 6 points lower month to month at 121, while the Current Conditions Index declined 11 points and the Future Expectations Index dropped 4 points. The survey was conducted among 400 farmers across the nation from April 13-17.
“Producers are still under pressure from high input costs, and this month we observed a slight rise in concerns about fertilizer availability,” says Michael Langemeier, the barometer’s principal investigator and director of Purdue’s Center for Commercial Agriculture. “Simultaneously, the impact of current events on fertilizer and energy markets increases global uncertainty, adding to the existing difficulties farmers face as they plan for the future.”
Only 15% of producers indicated that financial conditions improved in April compared to the same period last year. When looking at the year ahead, 28% of respondents cited expectations of worse financial performance, compared with 25% expecting better financial performance.
April’s survey also examined the impact of current events on farm income and corn breakeven prices in 2026. Approximately two-thirds of respondents expect less net farm income this year. Among producers who planted corn in 2025, about half expect corn breakeven prices to increase by up to 6% in 2026, 14% expect increases of 6% to 9%, and 37% anticipate increases of 10% or more.
Optimism about the direction of the U.S. economy also declined, with 57% of producers indicating the country is headed in the ‘right direction,’ down from 65% in March.