Lower outside markets helped keep Cattle futures in check Tuesday.
Toward the close, Live Cattle futures were unchanged to an average of 21¢ higher, except for 7¢ lower in spot Jun. Feeder Cattle futures were unchanged to an average of 22¢ higher, except for 52¢ lower in spot May.
Negotiated cash fed cattle trade was moderate on good demand in the Texas Panhandle through Tuesday afternoon, according to the Agricultural Marketing Service. FOB live trades were mainly steady at $218/cwt., but a few up to $219.
Trade in Kansas was light on good demand. FOB trades so far this week are steady to $2 higher at $218-$220.
Elsewhere, trade was mostly inactive on light demand.
Last week, FOB live prices were $222-$223 in Nebraska and $220-$224 in the western Corn Belt. Dressed delivered prices were $350.00/cwt., except for a few up to $352 in Nebraska.
Choice boxed beef cutout value was $1.10 higher Tuesday afternoon at $344.67/cwt. Select was $4.90 higher at $332.97.
Grain and Soybean futures were mixed Tuesday.
Toward the close and through Mar ‘26 contracts, Corn futures were 1¢ higher to 2¢ lower. Kansas City Wheat futures were 2¢ to 4¢ higher. Soybean futures were 3¢ to 5¢ lower.
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Major U.S. financial indices closed lower again Tuesday, amid chaotic comments from the Trump administration regarding progress in brokering tariff deals with U.S. trading partners.
The Dow Jones Industrial Average closed 389 points lower. The S&P 500 closed 43 points lower. The NASDAQ was down 154 points.
Through midafternoon, West Texas Intermediate Crude Oil futures (CME) were $1.58 to $1.89 higher through the front six contracts, with the rebound likely attributed to technical buying.
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Agricultural producer sentiment improved month to month in April, according to the latest Purdue University/CME Group Ag Economy Barometer. It rose 8 points to 147, buoyed by increased producer optimism about current and future conditions. The Index of Current Conditions climbed 9 points to 141, while the Index of Future Expectations increased 8 points to 152.
Improved sentiment came amid ongoing tensions with many of U.S. agriculture’s largest trading partners, including Mexico and Canada. Notably, a majority of producers said they believe the increased use of tariffs will ultimately benefit the U.S. agricultural economy.
“Producers seem to be gaining confidence in the ag economy’s longer-term outlook in spite of concerns they have about the impact of tariffs,” says Michael Langemeier, the barometer’s principal investigator and director of Purdue University’s Center for Commercial Agriculture. “This month’s results suggest some producers are starting to look beyond near-term uncertainty and focus more on positioning their farms for the future.”
The April survey included several questions focused on the impact of the U.S.’s tariff policy on U.S. agriculture. Even with the improvement in overall sentiment, farmers remain concerned about the near-term effects of U.S. trade policy. Over half (56%) of respondents said they expect the U.S. tariff policy to have a negative or very negative impact on their farm’s income in 2025, and 53% anticipate some difficulty in obtaining inputs as a result of higher import tariffs. Among those expecting supply challenges, fertilizer was the primary cited concern, followed by parts for farm machinery and electronics and crop chemicals.
The April barometer survey took place between April 14-21.