Negotiated cash fed cattle trade was mostly inactive on very light demand in the western Corn Belt through Tuesday afternoon, according to the Agricultural Marketing Service. Elsewhere, it was at a standstill.
Last week, prices were at $114/cwt. on a live basis in the Southern Plains and Northern Plains, and at $114-$115 in the western Corn Belt. Dressed trade was at $180-$182.
Cattle futures continued higher Tuesday, supported by rising wholesale beef prices and strength in Lean Hog futures, amid light trade.
Live Cattle futures closed an average of 66¢ higher, from 10¢ higher at the back to $1.12 higher toward the front.
Feeder Cattle futures closed an average of 39¢ higher.
Choice boxed beef cutout value was $3.04 higher Tuesday afternoon at $233.99/cwt. Select was $2.18 higher at $225.23.
Corn futures closed mostly fractionally higher to 2¢ higher.
Soybean futures closed 5¢ to 8¢ higher.