Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Feeder Cattle futures closed mixed across a broad range Tuesday, helped along by a day of respite from rising new-crop Corn futures. Live Cattle softened as traders await cash direction.
Live Cattle futures closed an average of 39¢ lower, except for 15¢ higher in the back contract.
Feeder Cattle futures closed mixed, from an average of 51¢ higher in five contracts (10¢ to $1.45 higher) to an average of 57¢ lower (7¢ to $1.40 lower).
Choice boxed beef cutout value was $5.79 higher at $290.99/cwt. Select was $5.18 higher at $279.53
Corn futures closed mostly 3¢ to 7¢ lower, expect for 15¢ higher in spot May and 2¢ higher in back contracts.
Soybean futures closed 18¢ to 19¢ lower through the front six contracts and then 6¢ to 16¢ lower.