Negotiated cash fed cattle trade was undeveloped through Tuesday afternoon.
Live Cattle futures edged higher with the firm fundamental outlook—at least static demand levels and weather-dampened beef production—for the near term. Feeder Cattle softened, likely due most to positioning after the previous session’s strong gain.
Live Cattle futures closed an average of 30¢ higher (5¢ higher to 97¢ higher in spot Feb).
Other than an average of 12¢ higher in Sep and Oct, Feeder Cattle futures closed an average of 32¢ lower.
Corn futures closed fractionally higher to 1¢ higher.
Soybean futures closed 1¢ to 2¢ higher.
Wholesale beef values were weak on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 63¢ lower Tuesday afternoon at $217.02/cwt. Select was 31¢ lower at $213.10.