Other than a few dressed trades reported by the Agricultural Marketing Service (AMS) in the western Corn Belt on Tuesday at $166/cwt. and too few to trend, negotiated cash fed cattle trade remained undeveloped.
Cattle futures closed mostly higher with more active trade.
Live Cattle futures closed an average of $1.09 higher through the front five contracts (10¢ higher in Feb to $2.20 higher in spot Jun), and then an average of 12¢ lower.
Feeder Cattle futures closed an average 73¢ higher (32¢ higher toward the back to $1.17 higher in spot Aug).
Choice boxed beef cutout value was $7.58 lower Tuesday afternoon at $247.00/cwt. Select was $3.17 lower at $227.95.
As of Tuesday morning, beef packing facilities were operating at 98% of their average capacity, compared to the same time last year, according to USDA. Pork facilities were at 95%, and poultry facilities were operating at 98%.
Corn futures closed 3¢ to 6¢ lower through May ’21 and then mostly 1¢ lower.
Soybean futures closed mostly 1¢ to 4¢ lower through Jly ‘21 and then mainly 7¢ to 8¢ lower.