Cattle futures were higher again Tuesday, helped along by the previous day’s announcement of another New World screwworm detection in northern Mexico and a day of higher wholesale beef values.
Toward the close, Live Cattle futures were an average of $1.31 higher. Feeder Cattle futures were an average of $3.71 higher.
Negotiated cash fed cattle trade was inactive on light to moderate demand in all major cattle regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were mostly $233/cwt. in the Southern Plains, and $230 in the North. Dressed delivered prices were $360.
Choice boxed beef cutout value was $2.63 higher Tuesday afternoon at $365.97/cwt. Select was 91¢ higher at $348.88.
Grain futures were lower Tuesday, while Soybean futures gained.
Toward the close and through Jly contracts, Corn futures were 2¢ to 3¢ lower. KC HRW Wheat were 3¢ to 4¢ lower. Soybean futures were 1¢ to 3¢ higher.
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