Negotiated cash fed cattle trade was mostly inactive on light demand in the western Corn Belt through Tuesday afternoon, with too few transactions to trend. Elsewhere, trade was at a standstill, according to the Agricultural Marketing Service.
Last week, live prices were at $114/cwt. in the Southern Plains and Colorado, $113-$114 in Nebraska and $112-$113 in the western Corn Belt. Dressed prices were at $178-$180.
Cattle futures closed mixed Tuesday. There was no cash direction, but Lean Hog futures continue to offer support, as does expanding open interest.
Live Cattle futures closed an average of 22¢ higher, except for an average of 62¢ lower in the front two contracts.
Feeder Cattle futures closed narrowly mixed, from an average of 39¢ lower to an average of 9¢ higher.
Choice boxed beef cutout value was $2.16 higher Tuesday afternoon at $226.93/cwt. Select was 72¢ higher at $218.77.
Corn futures closed 1¢ to 4¢ higher through the front three contracts and then mostly fractionally lower.
Soybean futures closed 3¢ higher through the front three contracts and then fractionally higher to 1¢ higher.