Cattle futures firmed Tuesday, helped along by recently higher cash fed cattle prices.
Feeder Cattle futures closed an average of 98¢ higher
Live Cattle futures closed an average of 43¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183/cwt. in the Southern Plains and $185 in the north. Dressed delivered prices were $290-$292.
Choice boxed beef cutout value was 47¢ higher Tuesday afternoon at $305.14/cwt. Select was $1.43 higher at $278.63/cwt.
Corn futures closed mostly 1¢ lower.
KC HRW Wheat closed 2¢ to 3¢ lower.
Soybean futures closed 7¢ to 10¢ higher through Sep ‘24 and then 3¢ to 6¢ higher.