Negotiated cash fed cattle trade developed in Kansas on Tuesday at $106-$107/cwt., according to the Agricultural Marketing Service. That was $2-$3 higher than last week with moderate trade and moderate to good demand.
Cattle futures closed mainly higher, buoyed by the positive cash outlook and climbing wholesale beef values.
Other than unchanged to an average of 9¢ lower in four contracts, Live Cattle futures closed an average of 41¢ higher.
Feeder Cattle futures closed an average of 84¢ higher (50¢ to $1.20 higher).
Choice boxed beef cutout value pressed $3.60 higher Tuesday afternoon to $220.86/cwt. Select was $2.71 higher at $204.65.
Corn futures closed 1¢ to 4¢ lower through Sep ’21 and then mostly fractionally lower.
Soybean futures closed narrowly mixed, from unchanged to 1¢ lower to 1¢ higher.