Negotiated cash fed cattle trade was undeveloped through Tuesday afternoon, based on USDA reports. Early expectations are for steady to higher prices.
Cattle futures ended up mostly narrowly higher amid two-sided action, awaiting direction from this week’s cash market.
Live Cattle futures closed an average of 31¢ higher, except for unchanged in near Dec.
Feeder Cattle futures closed mixed, unchanged to 55¢ lower in the front three contracts and then an average of 31¢ higher.
Wholesale beef values were higher on Choice and sharply higher on Select with moderate to good demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 80¢ higher Tuesday afternoon at $218.02/cwt. Select was $2.15 higher at $191.48.
Corn futures closed 2¢ to 4¢ lower through May ’20 and then mostly fractionally lower.
Soybean futures closed 3¢ to 6¢ lower through Aug ‘20 and then mostly fractionally lower to 1¢ lower.