Negotiated cash fed cattle trade was a standstill in the Southern Plains through Tuesday afternoon, according to the Agricultural Marketing Service. Elsewhere, trade was very limited on very light demand. Live sales last week were at $108/cwt. in the Southern Plains, $106-$107 in Nebraska and at $104-$105 in the western Corn Belt. Dressed trade was at mostly $168.
Live Cattle futures closed narrowly mixed Tuesday, pressured by sluggish trade, as well as cash and wholesale beef weakness. Feeder Cattle edged mostly higher, perhaps helped along by brighter supply fundamentals down the road.
Live Cattle futures closed narrowly mixed, from an average of 32¢ lower to an average of 12¢ higher, except for unchanged in away-Feb.
Feeder Cattle futures closed an average of 26¢ higher, except for 5¢ lower toward the back of the board.
Choice boxed beef cutout value was 87¢ lower Tuesday afternoon at $208.82/cwt. Select was 10¢ lower at $192.20.
Corn futures closed fractionally higher to 1¢ higher except for 5¢ lower in spot Dec.
Soybean futures closed mostly 10¢ to 14¢ higher through Aug ‘21 and then mostly fractionally higher to 1¢ higher.