Cattle futures were mixed with Live Cattle taking a breather and awaiting weekly cash direction while last Friday’s Cattle on Feed report continued helping lift Feeder Cattle.
Feeder Cattle futures were an average of 69¢ higher. Live Cattle futures mixed, from an average of 63¢ lower in the front five contracts to an average of an average of 84¢ higher.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $182/cwt., in the Southern Plains, mostly $183 in Nebraska and $184 in the western Corn Belt. Dressed delivered prices were $292-$293.
Choice boxed beef cutout value was $1.47 higher Tuesday afternoon at $297.40/cwt. Select was 89¢ higher at $292.76/cwt.
Heading into the close Tuesday, Wheat futures were the grain the complex higher again, based on weather concerns and apparent short covering.
Kansas City Wheat futures were 11¢ to 13¢ higher through Jly ‘25.
Corn futures were mostly 1¢ to 3¢ higher through Jly ‘25.
Soybean futures were 1¢ to 5¢ higher through Nov ‘24.
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