Cattle futures closed narrowly mixed as traders appeared to wait for the week’s cash direction and looking toward Friday’s monthly Cattle on Feed report.
Live Cattle narrowly mixed, from an average of 38¢ lower in the front four contracts to an average of 21¢ higher.
Feeder Cattle futures closed narrowly mixed, from an average of 25¢ lower in the front three contracts to an average of 70¢ higher (10¢ to $1.07 higher).
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon.
Last week, FOB live prices were $186/cwt. in the Southern Plains, $187-$188 in Nebraska and $187-$189 in the western Corn Belt. Dressed delivered prices were $295-$300 in Nebraska and $298 in the western Corn Belt.
Choice boxed beef cutout value was 11¢ lower Tuesday afternoon at $313.22/cwt. Select was 13¢ higher at $303.18/cwt.
Grain futures firmed Tuesday.
Corn futures closed 1¢ to 3¢ higher.
KC HRW Wheat futures closed 7¢ to 9¢ higher.
Soybean futures closed mostly 1¢ higher., except for fractionally higher to 2¢ lower in the front five contracts.
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