Short covering and lower Corn futures helped Feeder Cattle futures mostly rebound from the previous day’s pressure.
Feeder Cattle futures closed an average of $1.00 higher.
Live Cattle futures closed mixed, from an average of 17¢ lower in four contracts to an average of 39¢ higher.
Negotiated cash fed cattle trade was mostly inactive on very light demand in all major feeding regions through Tuesday afternoon with too few transactions to trend, according to the Agricultural Marketing Service.
Fed cattle prices last week were generally steady on a live basis at $123-$124/cwt. Dressed trade was $2 lower at $198 in Nebraska and $194-$198 in the western Corn Belt.
Choice boxed beef cutout value was $1.14 lower Tuesday afternoon at $301.56/cwt. Select was 3¢ lower at $274.35.
Corn futures closed 5¢ to 7¢ lower through new-crop contracts and then 2¢ lower to 1¢ higher.
Soybean futures closed mostly 9¢ to 10¢ lower.