Cattle futures closed mainly higher Tuesday amid choppy trade and following early pressure.
Feeder Cattle futures closed an average of 25¢ higher, except for unchanged and 5¢ lower in two away contracts.
Live Cattle futures closed an average of 75¢ higher, except for 37¢ lower in expiring Oct.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill in all major cattle feeding regions through Tuesday afternoon, with too few trades to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $185/cwt. in the Southern Plains, $183-$186 in Nebraska and $183-$185 in the western Corn Belt. Dressed delivered prices were $290.
Choice boxed beef cutout value was $4.10 lower Tuesday afternoon at $305.18/cwt. Select was $1.39 lower at $279.50/cwt.
Corn futures closed mostly fractionally higher to 1¢ higher.
KC HRW Wheat closed mostly 12¢ to 15¢ lower.
Soybean futures closed mostly 1¢ to 4¢ higher.
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