Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service. Live prices last week were at $114/cwt. and dressed trade was at $182.
Cattle futures closed mixed Tuesday, with continued pressure from Corn futures and uncertainty about the week’s cash direction.
Live Cattle futures closed an average of 33¢ higher, except for 25¢ lower in the back contract.
Feeder Cattle futures closed mixed, from an average of 42¢ lower to an average of 18¢ higher.
Choice boxed beef cutout value was $4.35 lower Tuesday afternoon at $234.68/cwt. Select was $1.47 lower at $226.17.
Corn futures closed mostly 4¢ to 7¢ higher; 13¢ higher in spot Mar.
Soybean futures closed 10¢ to 11¢ higher through Jan ‘22, and then mostly 3¢ higher.