Negotiated cash fed cattle trade was light to moderate on moderate demand in Nebraska through Tuesday afternoon. Live prices were steady to 50¢ higher than the previous day at $118/cwt., which was $1-$2 lower than last week. Dressed prices were $1-$2 lower at $188-$190.
Trade in the western Corn Belt was light to moderate on moderate demand. Live prices were steady to $3 lower than last week at $117-$119. There were a few dressed trades at $187-$190, but too few to trend; $190-$191 last week.
Elsewhere, trade was limited on light demand. Live prices in the Southern Plains last week were at $118-$119. Prices in Colorado last week were $119-$120.
Choice boxed beef cutout value was $1.92 higher at $301.22/cwt. Select was 12¢ higher at $283.91
Feeder Cattle futures and front-month Live Cattle wilted Tuesday, pressured by higher feed costs and plentiful fed cattle supplies.
Live Cattle futures closed an average of 82¢ lower across a broad range, from an average of $1.52 lower in the front four contracts to an average of 26¢ lower across the rest of the board.
Feeder Cattle futures closed an average of $3.26 lower.
Grain futures popped higher Tuesday as the market continues trying to buy more acres. That was despite what appeared to be a production-friendly planting report.
Corn futures closed mostly 13¢ to 18¢ higher.
Soybean futures closed mostly 12¢ to 18¢ higher.