Cattle futures closed lower Tuesday with pressure including less packer production, apparent non-commercial long liquidation and more pessimism around this week’s cash fed cattle price potential.
Toward the close, Live Cattle futures were an average of $1.29 lower. Feeder Cattle futures were an average of $2.68 lower.
Negotiated cash fed cattle trade was limited on light demand in the Southern Plains through Tuesday afternoon, according to the Agricultural Marketing Service. Although too few transactions to trend, there were some FOB live trades at $203/cwt. Elsewhere, trade was at a standstill.
Last week, FOB live prices were $206/cwt. in the Southern Plains $208 in Nebraska and $205-$208 in the western Corn Belt. Dressed delivered prices were $328.
Choice boxed beef cutout value was $1.04 lower Tuesday afternoon at $322.46/cwt. Select was $1.71 lower at $312.21.
Grain and Soybean futures were lower Tuesday with traders disappointed by the lack of news in the World Agricultural Supply and Demand Estimates.
Toward the close and through Sep ’25 contracts, Corn futures were 2¢ to 8¢ lower. Kansas City Wheat futures were 4¢ to 5¢ lower. Soybean futures were 2¢ to 5¢ lower.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More