Cattle futures continued lower with outside markets Tuesday.
Feeder Cattle futures closed an average of $1.02 lower.
Live Cattle futures closed an average of 67¢ lower.
Negotiated cash fed cattle trade was steady in the Southern Plains Tuesday at $143/cwt. on slow trade and moderate demand.
Elsewhere, trade was inactive on light demand.
Last week, live prices were $144-$145 in Nebraska and $145-$148 in the western Corn Belt. Dressed prices were $228-$232 in Nebraska and $227-$243 in the western Corn Belt.
Choice Boxed beef cutout value was $1.07 higher Tuesday afternoon at $248.91/cwt. Select was 1.27 lower at $222.08/cwt.
Corn futures closed 1¢ to 2¢ higher through Jly ‘23 and then mostly unchanged to fractionally lower.
Soybean futures closed 1¢ to 3¢ lower through Aug ‘23 and then mostly fractionally higher.
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Major U.S. financial indices closed mixed Tuesday as a relief rally from recent steep losses fell short.
The Dow Jones Industrial Average closed 125 points lower. The S&P 500 closed 7 points lower. The NASDAQ was up 26 points.
West Texas Intermediate Crude Oil futures (CME) closed $1.14 to $1.79 higher through the front six contracts.
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Winter wheat planting increased 10% week to week (Sept. 25), according to the latest USDA Crop Progress report.
31% of winter wheat was planted, which was 10% more than the previous week, 1% less than last year but 1% more than the five-year average. 9% was emerged, which was 7% more than the previous week, 2% more than last year and 3% more than average.
26% of pasture and range was rated as Good (22%) or Excellent (4%), which was 2% less than a week earlier but 3% more than a year earlier. Conversely, 43% was rated as Poor (23%) or Very Poor (20%), which was the same as the previous week but 3% less than a year earlier.
92% of corn was dented, which was 4% less than last year and 2% less than the five-year average. 58% was mature, which was 14% less than a year earlier and 3% less than average. 12% was harvested, which was 5% less than last year and 2% less than the average. 52% was rated as Good (42%) or Excellent (10%), which was the same as the prior week but 7% less than a year earlier. 21% was rated Poor (12%) or Very Poor (9%) the same as a week earlier but 6% more than a year earlier.
63% of soybeans were dropping leaves, which was 10% less than last year and 2% less than the average. 8% were harvested, compared to 15% last year and 13% for average. 55% were rated as Good (46%) or Excellent (9%) which was the same as the previous week and 3% less than the prior year. 15% were rated Poor (10%) or Very Poor (5%), which was the same as the previous week but 1% more than the prior year.