Negotiated cash fed cattle trade remained undeveloped through Tuesday afternoon.
Feeder Cattle futures continued to rebound, despite slightly higher Corn futures, and helping deferred Live Cattle.
Except for unchanged in Apr, Feeder Cattle futures closed an average of $1.26 higher.
Except for unchanged in spot Aug, Live Cattle futures closed narrowly mixed, from an average of 23¢ lower across the front half of the board to an average of 40¢ higher across the back half.
Wholesale beef values were firm on moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 75¢ higher Tuesday afternoon at $220.47/cwt. Select was 35¢ higher at $195.99.
Corn futures closed mostly 2¢ to 4¢ higher, perhaps getting some support from crop conditions (see below).
Soybean futures closed 7¢ to 10¢ lower though Jul. ’20 and then mostly 5¢ lower.