Cattle futures tried for gains early in Tuesday’s trading session but were mainly marginally lower toward the close.
Live Cattle futures were narrowly mixed, from an average of 15¢ lower in three contracts to an average of 16¢ higher. Feeder Cattle were an average of 28¢ lower, except for 12¢ higher in the back contract.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $186/cwt. in the Southern Plains, $190 in Nebraska and $188-$192 in the western Corn Belt. Dressed delivered prices were $301 in Nebraska and $300-$301 in the western Corn Belt.
Choice boxed beef cutout value was $1.28 higher Tuesday afternoon at $316.88/cwt. Select was 77¢ higher at $304.47/cwt.
Grain futures continued lower again Tuesday on crop progress. Toward the close, Corn futures were 1¢ lower. Kansas City Wheat futures 11¢ to 12¢ lower. Soybean futures 5¢ to 7¢ lower.
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