Live Cattle futures edged higher Tuesday, as Feeder Cattle firmed, despite a bounce higher in Corn futures.
Except for 7¢ lower in spot Aug, Live Cattle futures closed an average of 68¢ higher, recovering what was lost in the previous session.
Except for 10¢ lower in Apr, Feeder Cattle futures closed an average of 16¢ higher.
Choice boxed beef cutout value was $2.21 higher Tuesday afternoon at $229.68/cwt. Select was $1.01 higher at $212.26.
Corn and Soybean futures jumped Tuesday with the heat and dryness across the Midwest.
Corn futures closed mostly 8¢ to 9¢ higher through Jly ’21 and then mostly 4¢ to 5¢ higher.
Soybean futures closed mostly 10¢ to 14¢ higher through Sep ’21 and then mostly 8¢ higher.