Cattle futures closed mainly higher Tuesday with follow-through support from the previous day’s New World screwworm news.
Toward the close, Live cattle futures were mixed from an average of 98¢ lower in the front four contracts to an average of $1.08 higher. Feeder Cattle futures were an average of $2.94 higher.
Negotiated cash fed cattle trade was inactive on light to moderate demand in all regions, through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $240/cwt. in the Southern Plains, $236-$238 in Nebraska and $236-$237 in the western Corn Belt. Dressed delivered prices were $370 in Nebraska and $368-$376 in the western Corn Belt.
Choice boxed beef cutout value was 59¢ lower Tuesday afternoon at $380.80/cwt. Select was $2.19 lower at $359.90.
Soybean futures were firm to higher.
Toward the close and through Jly contracts, Corn futures were 2¢ to 4¢ higher. Kansas City Wheat futures were 8¢ to 9¢ higher. Soybean futures were fractionally higher to 1¢ higher.
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