Feeder Cattle futures led Live Cattle higher on Tuesday.
Toward the close, Feeder Cattle futures were an average of $2.15 higher. Live Cattle futures were an average of 30¢ higher.
Negotiated cash fed cattle trade was inactive on light demand in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $230/cwt. in Kansas and $225-$230 in Nebraska and the western Corn Belt. Dressed delivered prices were mostly $355 Nebraska and $350-$355 in the western Corn Belt on a light test. There was no reported established trade in the Texas Panhandle.
Choice boxed beef cutout value was 58¢ lower Tuesday afternoon at $358.88/cwt. Select was $1.80 higher at $349.10.
Grain and Soybean futures were lower Tuesday.
Toward the close, Corn futures were 3¢ lower. KC HRW Wheat futures were 6¢ to 7¢ lower. Soybean futures were 8¢ to 9¢ lower.
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