Although too few to trend, there were some early live sales in the western Corn belt at $127/cwt. and a few in the beef at $204, the top end of last week’s price range in the region.
Elsewhere, trade ranged from a standstill to mostly inactive with very light demand.
Weaker outside markets and the lack of cash direction weighed on Cattle futures Tuesday.
Feeder Cattle futures closed an average of 75¢ lower (32¢ to $1.30 lower).
Live Cattle futures closed an average of 56¢ lower (22¢ to $1.00 lower) except for 5¢ higher in the back contract.
That was despite another day of strong gains for wholesale beef prices. Choice boxed beef cutout value was $8.26 higher Tuesday afternoon at $338.06/cwt. Select was $3.22 higher at $306.77/cwt.
Corn futures close mostly 4¢ to 5¢ lower.
Soybean futures closed 3¢ to 7¢ lower through Jly ’22 and then mostly fractionally lower to 1¢ lower.