Cattle futures continued to churn higher Tuesday.
Feeder Cattle futures closed an average of 97¢ higher. Live Cattle futures closed an average of 94¢ higher (40¢ to $1.77 higher).
Corn and Soybean futures closed higher on likely positioning ahead of Wednesday’s World Agricultural Supply and Demand Estimates.
Corn futures closed 1¢ to 3¢ higher.
Soybean futures closed mostly 10¢ to 12¢ higher.
KC HRW Wheat closed mostly 6¢ 8¢ higher.
Negotiated cash fed cattle trade was inactive with very light demand in all regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $178/cwt. in the Southern Plains, $183.00-$186.50 in Nebraska and $182-$184 in the western Corn Belt. Dressed prices were $290.
Choice boxed beef cutout value was $1.67 lower Tuesday afternoon at $312.12/cwt. Select was $2.09 lower at $280.24/cwt.