Cattle futures, continued to firm Tuesday and gain back from last Friday’s sharp losses.
Toward the close, Live Cattle futures were an average of $1.59 higher. Feeder Cattle futures were an average of 87¢ higher.
Negotiated cash fed cattle trade was mostly inactive on light to moderate demand in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
FOB live prices were mainly $240/cwt. in all regions, which was $5 higher in Kansas, $5-$6 higher in Nebraska, $5 higher in the western Corn Belt, and compared to two weeks earlier, $7 higher in the Texas Panhandle.
Dressed delivered prices were $10 higher in Nebraska at $372 and $10-$10.50 higher in the western Corn Belt at $372-$372.50.
Choice boxed beef cutout value was $2.75 higher Tuesday afternoon at $371.93/cwt. Select was 89¢ lower at $352.57.
Grain and Soybean futures were lower Tuesday with chart resistance.
Corn futures were 2¢ to 3¢ lower. KC HRW Wheat were 3¢ to 4¢ lower. Soybean futures were1¢ to 2¢ lower.
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Major U.S. financial indices closed mixed Tuesday.
The Dow Jones Industrial Average closed 218 points higher. The S&P 500 closed fractionally higher. The NASDAQ was down 36 points.
West Texas Intermediate Crude Oil futures (CME) closed 14¢ to 35¢ higher through the front six contracts.
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