Although there was too little negotiated cash fed cattle trade through Tuesday afternoon for AMS to report a trend, signs point to higher prices this week.
For instance, the five-area direct dressed steer and heifer price on Monday was $10 more than Friday at $185/cwt. Wholesale beef values remain elevated. Plus Cattle futures were limit-up again Tuesday, with expanded limits.
Live Cattle futures closed limit-up $4.50.
Except for $5.00 higher in spot, Apr, Feeder Cattle futures closed limit-up $6.75.
Choice boxed beef cutout values were lower on Choice and firm on Select with light to moderate demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.01 lower Tuesday afternoon at $256.31/cwt.; it was $229 at the same time last year. Select was 34¢ higher at $245.48.
Corn futures closed mostly 1¢ to 2¢ higher.
Soybean futures closed mostly 2¢ to 4¢ higher through Aug ‘21, and then mostly unchanged to fractionally higher.