Cattle futures started and ended the session higher Tuesday, supported by last week’s stronger cash prices and the neutral monthly Cattle on Feed report, Live Cattle futures were an average of 83¢ higher. Feeder Cattle futures were an average of $3.52 higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $1 higher in the Southern Plains at $187/cwt., $2 higher in Nebraska at $192 and steady to $2 higher in the western Corn Belt at $190-$192.
Dressed delivered prices in Nebraska were $4-$6 higher at $304 and $2-$4 higher in the western Corn Belt at $302-$304 in a light test.
The weighted average five-area direct FOB live steer price last week was $1.55 higher at $190.09. The average dressed delivered steer price was $4.10 higher at $303.49.
Choice boxed beef cutout value was $1.67 higher Tuesday afternoon at $312.12/cwt. Select was $1.71 higher at $303.43/cwt.
Heading into the close Tuesday, through Jly ‘25, Kansas City Wheat futures were 5¢ to 12¢ higher. Corn futures were mostly 2¢ lower and Soybean futures were 2¢ to 8¢ higher.
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