Cattle futures closed lower Tuesday, with likely profit taking and technical correcting. Toward the close, Live Cattle futures were an average of $1.19 lower. Feeder Cattle futures were an average of $3.08 lower
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $186-$187/cwt. in the Southern Plains and $187-$188 in the North. Dressed delivered prices were steady at $296.
Choice boxed beef cutout value was $3.51 higher Tuesday afternoon at $316.83/cwt. Select was $2.99 higher at $292.09.
Grain and Soybean futures closed lower again, amid harvest pressure and lower outside markets, including Crude Oil.
Toward the close and through Sep ’25 contracts, Corn futures were 6¢ to 7¢ lower. Kansas City Wheat futures were 5¢ to 7¢ lower. Soybean futures were mostly 7¢ to 9¢ lower
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Calves and feeder cattle sold mixed at Tuesday auctions monitored by Cattle Current, in a limited test.
Feeder steers sold from $5 lower to $3 higher at Ozarks Regional Stockyards in West Plains, MO, where there were 2,219 head. Feeder heifers traded from $5 lower to $8 higher.
At Also in Missouri, at Kingsville Livestock Auction The majority of the feeder offering sold steady to $5 higher with 2,082 head on offer.
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Major U.S. financial closed lower Tuesday, taking a breather from the recent run.
The Dow Jones Industrial Average closed 324 points lower. The S&P 500 closed 44 points lower. The NASDAQ was down 187 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures on the CME were $2.73 to $2.93 lower through the front six contracts.
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Nationwide last week, steers and heifers sold $1-$5/cwt. higher on good to very good demand, according to the Agricultural Marketing Service (AMS). There were 249,600 head reported at auction, direct and via video-internet, compared to 258,200 head the same week last year.
“Buyers continue to want good long-weaned cattle with shots. Very dry,
dirty weaning pens have not discouraged buyers from purchasing the fresh bawling calves that are appearing in the markets,” AMS analysts explain.
At the same time, AMS analysts explain dry conditions are pushing some cattle earlier than planned.
According to the latest U.S. Drought Monitor, 43% of cattle are in areas affected by drought versus 46% a year earlier