Cattle futures continued mostly higher Tuesday with continued power from fundamental strength.
Toward the close, Live cattle futures were an average of 73¢ higher (5¢ to $1.55 higher), except for 42¢ lower in spot Aug. Feeder Cattle futures were an average of $2.49 higher.
Negotiated cash fed cattle trade was inactive on light to moderate demand in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $235/cwt. in Kansas, $243-$245 in Nebraska and $240-$245 in the western Corn Belt. Dressed delivered prices were $380-$385. The previous week, FOB live prices in the Texas Panhandle were $235.
Choice boxed beef cutout value was $2.96 higher Tuesday afternoon at $407.20. Select was $2.62 higher at $379.76.
Grain and Soybean futures were lower Tuesday, pressured by yields estimated in early crop tours and favorable crop progress.
Toward the close and through Jly contracts, Corn futures were 3¢ lower. Kansas City Wheat futures were 3¢ to 7¢ lower. Soybean futures were 6¢ to 8¢ lower.
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