Negotiated cash fed cattle trade was slow on light demand in the Northern Plains through Tuesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were a few early live sales at $114/cwt., which was steady to $1 higher.
Last week, live prices were at $114 in the Southern Plains, $113-$114/cwt. in the Northern Plains and at $112-$114 in the western Corn Belt. Dressed trade was at $180.
Cattle futures closed mostly higher Tuesday, buoyed in part by softer Corn futures and increasing chatter that the bottom may finally be in or at least near for cattle prices.
Live Cattle futures closed an average of 33¢ higher, except for an average of 16¢ lower in the back two contracts.
Feeder Cattle futures closed an average of $2.03 higher through the front three contracts, and then from 30¢ lower to 60¢ higher.
Choice boxed beef cutout value was $2.05 lower Tuesday afternoon at $229.03/cwt. Select was 67¢ higher at $223.80.
Corn futures closed mostly 1¢ to 3¢ higher, except for 1¢ to 3¢ lower in the front three contracts.
Soybean futures closed mostly 4¢ to 7¢ higher.