Cattle futures closed higher Tuesday, supported by steady to stronger wholesale beef values.
Heading into the close and before settlement, Live Cattle futures were an average of $1.01 higher. Feeder Cattle were an average of $1.62 higher.
Negotiated cash fed cattle trade ranged from a standstill in the Southern Plains to slow on light demand in the western Corn Belt through Tuesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some early FOB live trades in the western Corn Belt at $192/cwt.
Last week, FOB live prices were $186/cwt. in the Southern Plains, $190 in Nebraska and $190 in the western Corn Belt with a few up to $191. Dressed delivered prices were $298 in Nebraska and mostly $300 in the western Corn Belt with a few up to $306.
Choice boxed beef cutout value was 32¢ higher Tuesday afternoon at $313.02/cwt. Select was $1.52 higher at $300.87/cwt.
Heading into the close, Corn futures were 1¢ to 2¢ lower through Jly ’25 on planting pressure. Soybean futures were 10¢ to 12¢ lower through Jly ’25.
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