Cattle futures bounced back Tuesday, supported by resurgent wholesale beef values.
Toward the close and ahead of settlement, Live Cattle futures were an average of $1.06 higher. Feeder Cattle futures were an average of $1.60 higher.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $184/cwt. in the Southern Plains $186-$187 in Nebraska and $185-$187 in the western Corn Belt. Dressed delivered prices were $294-$295.
Wholesale beef prices continued to firm, offering hopes that the seasonal rally has begun.
Choice boxed beef cutout value was 27¢ lower Tuesday afternoon at $298.49/cwt. Select was $2.59 higher at $292.34/cwt.
Grain futures softened Tuesday amid likely producer selling. Heading into the close, Corn futures were narrowly mixed from fractionally lower to 3¢ lower in the front three contracts and then fractionally higher to 1¢ higher through Dec ‘25. Kansas City Wheat futures were 7¢ to 15¢ lower through May ‘25. However, Soybean were mostly 3¢ to 7¢ higher through Jly ‘25.
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