Steady to stronger negotiated cash fed cattle prices helped Live Cattle futures closed an average of 65¢ higher.
Negotiated cash fed cattle trade was moderate through Tuesday afternoon in Nebraska and the Southern Plains, according to the Agricultural marketing Service.
So far this week, live prices are steady in the Southern Plains at $140/cwt. and steady to $1 higher in Nebraska at $145-$146. Dressed prices are unevenly steady at $232 in Nebraska.
Feeder Cattle futures closed an average of $1.18 lower, pressured by Corn futures, which were up mostly 3¢ to 9¢, supported by slow planting progress. Soybean futures closed mostly 1¢ to 11¢ higher.
Choice Boxed beef cutout value was $2.43 lower Tuesday afternoon at $264.17/cwt. Select was 29¢ lower at $256.23.