Negotiated cash fed cattle trade was at a standstill in Kansas through Tuesday afternoon, according to the Agricultural Marketing Service. Elsewhere, it was limited on light demand, with too few transactions to trend.
Cattle futures softened Tuesday, with spot Live Cattle soon to expire, the lack of cash direction and bearish outside markets early in the session.
Live Cattle futures closed an average of 85¢ lower, from 10¢ to $1.85 lower.
Feeder Cattle futures closed an average of $1.01 lower, from 67¢ to $1.35 lower.
Choice boxed beef cutout value was 31¢ higher Tuesday afternoon at $240.29/cwt. Select was 55¢ higher at $230.53.
Corn futures closed 1¢ to 2¢ higher through Jly ‘21, and then mostly fractionally mixed.
Soybean futures closed 10¢ to 22¢ higher through Sep ‘22, and then mostly 8¢ higher.