Negotiated cash fed cattle trade was at a standstill in the Southern Plains through Tuesday afternoon, according to the Agricultural Marketing Service. Elsewhere, it was limited to mostly inactive on very light demand. Although too few transactions to trend, there were a few live sales in the western Corn Belt at $103.00 to $106.25/cwt. Last week, live sales were at $108/cwt. in the Southern Plains and at mostly $105 in Nebraska and the western Corn Belt. Dressed trade was at mostly $165.
Cattle futures closed lower Tuesday, likely pressured in part by some pre-holiday position squaring, technical correction and the lack of cash direction.
Live Cattle futures closed an average of 70¢ lower from 27¢ lower in spot Dec to $1.20 lower.
Feeder Cattle futures closed an average of 81¢ lower except for unchanged in the back two contracts.
Choice boxed beef cutout value was 25¢ lower at $210.67/cwt. Select was $2.33 higher at $199.59.
Corn futures closed 1¢ to 3¢ higher through Sep ‘21 and then mostly fractionally lower to 1¢ lower.
Soybean futures closed 2¢ to 4¢ higher through Aug ’21, and then mostly 1¢ to 3¢ lower.