Cattle futures were higher Tuesday on the first day of the new quarter, supported by strengthening wholesale beef values.
Choice boxed beef cutout value was $6.96 higher Tuesday afternoon at $342.22/cwt. Select was $2.06 higher at $322.07.
Toward the close, Live Cattle futures were an average of $2.06 higher. Feeder Cattle futures were an average of $2.73 higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand in the North to a standstill in the Southern Plains through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $209-$210/cwt. in the Southern Plains and $213 in the North. Dressed delivered prices were $335-$345.
Grain and Soybean futures were higher Tuesday as traders resumed buying after month-end and quarter-end position squaring and with USDA’s Planting Intensions and Grain Stocks reports in the books, perhaps also reflecting some new weather premium.
Toward the close and through Sep ’25 contracts, Corn futures were 3¢ to 5¢ higher. Kansas City Wheat futures were 5¢ to 7¢ higher. Soybean futures were 18¢ to 20¢ higher.
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