Negotiated cash fed cattle trade in all major cattle feeding regions ranged from a standstill to mostly inactive on very light demand through Tuesday afternoon, according to the Agricultural Marketing Service.
Live prices last week were at $120/cwt. in the Southern Plains, $120-$123 in Colorado, $123 in Nebraska and $123-$125 in the western Corn Belt. Dressed trade was at $195-$196.
Cattle futures closed Lower Tuesday, especially Feeder Cattle, challenged by technical correction and the relentless march higher of corn prices. As well, wholesale beef values stalled the last couple of days.
Live Cattle futures closed an average of 66¢ lower (15¢ to $1.17 lower).
Feeder Cattle futures closed an average $2.09 lower.
Choice boxed beef cutout value was $1.30 lower Tuesday afternoon at $270.11/cwt. Select was 38¢ higher at $266.54.
Corn futures closed 10¢ to 11¢ higher through the front three contracts and then mostly 4¢ to 7¢ higher.
Soybean futures closed 1¢ to 7¢ higher across the front half of the board, and then fractionally lower.