Cattle futures were higher Tuesday, supported again by recently stronger Choice wholesale beef values.
Toward the close, Live Cattle futures were an average of 54¢ higher. Feeder Cattle futures were an average of $1.51 higher.
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 $1 higher in the Southern Plains at $186/cwt., steady in Nebraska at $187 and mostly steady to $2 higher in the western Corn Belt at $187-$188. Dressed delivered prices were $2 higher in Nebraska at $296 and $2-$4 higher in the western Corn Belt at $296.
Choice boxed beef cutout value was 91¢ higher Tuesday afternoon at $306.84/cwt. Select was 72¢ lower at $288.61.
Corn and soybean futures were lower Tuesday with harvest pressure and a more positive planting outlook for South America.
Toward the close and through Sep ’25 contracts, Corn futures were mostly 2¢ to 5¢ lower. Soybean futures were 15¢ to 19¢ lower. Kansas City Wheat futures were fractionally lower.
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Major U.S. financial indices closed higher Tuesday, supported by easing oil prices and stronger tech stocks.
The Dow Jones Industrial Average closed 126 points higher. The S&P 500 closed 55 points higher. The NASDAQ was up 259 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures on the CME were $2.52 to $3.54 lower through the front six contracts.