Negotiated cash fed cattle trade was slow on light demand in the Western Corn Belt through Tuesday afternoon, according to the Agricultural Marketing Service. Live FOB prices were steady at $188/cwt. Dressed delivered prices last week were $295/cwt.
Elsewhere, trade ranged from inactive on light demand to a standstill with too few transactions to trend.
Last week live FOB prices were $180/cwt. in the Southern Plains and $188 in Nebraska, where dressed delivered prices were $295
Choice boxed beef cutout value was $1.76 higher Wednesday afternoon at $307.26/cwt. Select was $2.58 higher at $283.03/cwt.
However, Cattle futures edged lower Tuesday, pressured by lower outside markets as much as anything.
Feeder Cattle futures closed an average of 27¢ lower, except for 5¢ higher in the back contract.
Live Cattle futures an average of 56¢ lower.
Weaker outside markets and improved crop conditions weighed on grain and Soybean futures Tuesday.
Corn futures closed 9¢ to 12¢ lower through Sep ‘24 and then mostly 5¢ to 6¢ lower.
KC HRW Wheat closed 13¢ to 16¢ lower through Mar ‘25.
Soybean futures closed 10¢ to 29¢ lower through Sep ‘24 and then 7¢ to 10¢ lower.
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