Cattle futures closed mostly higher Tuesday following a downturn earlier in the session tied to reported rumors about an immigration and enforcement raid at a Nebraska packing house.
Toward the close, Live cattle futures were an average of 49¢ higher, except for an average of 79¢ lower in two nearby contracts. Feeder Cattle futures were an average of $1.88 higher.
The CME Feeder Cattle Index surged $3.58 to $314.04.
Negotiated cash fed cattle trade was mostly inactive on moderate demand in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Although too few to trend, there were some early live FOB sales in the Texas Panhandle at $235/cwt.
Last week, based on the latest established trade, FOB live prices were $232 in the Texas Panhandle, $235 in Kansas, $242-$244 in Nebraska and $240-$242 in the western Corn Belt. Dressed delivered prices were $380.
Choice boxed beef cutout value was $4.51 higher Tuesday afternoon at $371.76. Select was 91¢ higher at $359.84.
Turning to the grain complex, Corn and Soybean futures were higher Tuesday after early-session pressure. Toward the close and through Mar ‘26 contracts, Corn futures were mostly 1¢ to 5¢ higher. Soybean futures were mostly fractionally lower to 1¢ higher. Kansas City Wheat futures were 10¢ lower.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More