Cattle futures extended gains Tuesday, supported by another day of firmer Choice boxed beef cutout values and likely short covering.
Toward the close, Live Cattle futures were an average of 96¢ higher. Feeder Cattle futures were an average of $1.56 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 $3 lower in the Southern Plains at $187/cwt. and $3-$4 lower in Nebraska at $186-$187 and $2-$5 lower in the western Corn Belt at $185-$188. Dressed delivered prices were $2-$4 lower in Nebraska at $294 and $4 lower in the western Corn Belt at $294.
Choice boxed beef cutout value was 6¢ higher Tuesday afternoon at $308.27/cwt. Select was $1.92 higher at $279.92.
Grain and Soybean futures were lower Tuesday, with likely pressure from the stronger U.S. Dollar, profit taking and producer selling.
Toward the close and through Sep ’25 contracts, Corn futures were 1¢ to 2¢ lower. Kansas City Wheat futures were 11¢ to 13¢ lower. Soybean futures were mostly 8¢ to 13¢ lower.
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