Firmer Corn futures helped pressure Feeder Cattle futures an average of $1.10 lower Tuesday (55¢ lower at the back to $1.67 lower).
Live Cattle futures narrowly mixed, unchanged to an average of 36¢ lower in the front five contracts and then an average of 49¢ higher.
Negotiated cash fed cattle trade and demand were at a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $180/cwt. in the Southern Plains and $188 in Nebraska and the western Corn Belt. Dressed prices were $295 in a light test.
Choice boxed beef cutout value was 90¢ higher at $302.39/cwt. Select was $1.15 higher at $276.16/cwt.
Corn futures closed mostly 1¢ to 3¢ higher.
KC HRW Wheat closed mostly 1¢ lower through Jly ‘24 and then mostly 2¢ higher.
Soybean futures closed mostly 5¢ to 8¢ higher.
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