Negotiated cash fed cattle trade was mostly inactive on light demand in the Southern Plains through Tuesday afternoon, according to the Agricultural Marketing Service. Elsewhere, trade was at a standstill.
Pressure in Corn futures helped boost Cattle futures Tuesday, especially Feeder Cattle.
Live Cattle futures closed an average of 32¢ higher (15¢ to 87¢ higher) except for an average of 25¢ lower in two contracts.
Feeder Cattle futures closed an average of $1.32 higher.
Choice boxed beef cutout value was $1.91 lower Tuesday afternoon at $234.29/cwt. Select was 12¢ higher at $220.73.
Corn futures closed 7¢ to 8¢ lower through the front three contracts and then mostly 1¢ to 2¢ lower. Estimated U.S. and world ending stocks were more than the average of expectations.
Soybean futures closed mostly 10¢ to 14¢ higher through Jan ‘22 and then mostly 8¢ to 9¢ higher.