Packers showed their hand early and came out swinging in Nebraska Tuesday where live prices were $4-$6 higher at $145-$149/cwt. That was on slow trade and light demand. Dressed trade there last week was $225-$226.
Elsewhere, trade was limited on light demand with too few transactions to trend, according to the Agricultural Marketing Service. However, early prices were steady to higher.
Last week, live prices were $136-$137 in the Southern Plains, $141 in Colorado and $141-$143 in the western Corn Belt, where dressed trade was $225.
Choice Boxed beef cutout value was $1.10 lower through Tuesday afternoon at $269.44/cwt. Select was 63¢ lower at $246.82.
Cattle futures closed little changed Tuesday but firmed following the previous day’s decline.
Feeder Cattle futures closed an average of 14¢ lower, except for an average of 8¢ higher in two contracts.
Live Cattle futures closed an average of 42¢ higher (7¢ to $1.20 higher).
Corn futures closed fractionally lower to 1¢ lower through Jly ‘23 and then mostly 5¢ lower.
Soybean futures closed 5¢ to 11¢ lower through Aug ‘23 and then mostly fractionally lower.
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