Lower Corn futures helped Feeder Cattle futures firm Tuesday and close narrowly mixed, from an average of 15¢ lower to an average of 34¢ higher.
Live Cattle futures closed an average of 75¢ lower, except for 37¢ higher in in the back contract, with pressure tied, in part, to eroding open interest.
Corn futures softened Tuesday with likely profit taking, closing mostly 2¢ to 3¢ lower.
Soybean futures closed mostly 4¢ to 5¢ lower.
KC HRW Wheat closed mostly 4¢ to 6¢ higher through Mar ‘25.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices (FOB) live prices were $180/cwt in the Southern Plains and $188 in Nebraska and the western Corn Belt, where dressed prices (FOB) were $295.
Choice boxed beef cutout value was 6¢ higher Tuesday afternoon at $304.22/cwt. Select was 56¢ higher at $277.55/cwt.