Cattle futures rallied Tuesday, supported by strong wholesale beef values, which were propped up further by lost production at Cargill’s plant in Dodge City for a few days this week, due to a partial roof collapse, owing to heavy rain last weekend. Before settlement, Live Cattle futures were an average of $1.54 higher. Feeder Cattle futures were an average of $3.06 higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $190/cwt. in the Southern Plains and mostly $198 in Nebraska and the western Corn Belt. Dressed delivered prices were mostly $312, but stretched as high as $317.
Choice boxed beef cutout value was $1.21 higher Tuesday afternoon at $330.39/cwt. Select was 7¢ higher at $306.48/cwt.
Front-month Corn and Soybean futures gained Tuesday, likely with additional short covering. Toward the close and through Jly ’25 contracts, Corn futures were mostly fractionally higher. Soybean futures were mostly fractionally higher to 5¢ higher. Kansas City Wheat futures were 3¢ to 10¢ lower with likely harvest pressure.
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