Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service. There were too few transactions to trend.
Live prices last week were steady in the Southern Plains on a live basis at $124/cwt. and steady to $2 higher at $124 in Nebraska and the western Corn Belt. Dressed prices were at $196, which was steady in Nebraska but steady to $3 higher in the western Corn Belt.
Choice boxed beef cutout value was 79¢ higher Tuesday afternoon at $280.88/cwt. Select was $1.72 higher at $261.53/cwt.
Cattle futures closed narrowly mixed Tuesday amid light trade with Feeder Cattle futures showing signs of firming.
Live Cattle futures closed mixed, from an average of 25¢ lower to an average of 13¢ higher.
Feeder Cattle futures closed mixed, from an average of 34¢ lower through the front five contracts to an average of 64¢ higher the rest of the way.
Corn futures closed mostly 1¢ to 2¢ lower.
Soybean futures closed mostly 6¢ to 8¢ higher.
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