Negotiated cash fed cattle trade continued to be light on Tuesday. The only established trend reported by AMS so far this week is mostly $180/cwt. on a dressed basis in the western Corn Belt. Although too few to trend, early live and dressed sales in Nebraska so far this week are at the top of last week’s range.
Cattle futures closed narrowly mixed Tuesday, amid sparse interest and direction.
Live Cattle futures closed from 30¢ lower to 22¢ higher, with open interest continuing to decline.
Except for 82¢ higher in spot May, Feeder Cattle futures closed an average of 39¢ lower, in light trade.
The most recent CME Feeder Cattle Index of $126.84 was the highest since the end of March.
Choice boxed beef cutout value was $5.48 lower Tuesday afternoon at $409.47/cwt. Select was $6.00 lower at $388.87.
Corn futures closed mostly 1¢ higher.
Soybean futures closed mostly 2¢ lower through Mar ’21 and then fractionally higher to 1¢ higher.