Cattle futures closed higher for the third consecutive trading session, helped along by a couple of days of higher Choice boxed beef cutout value and chatter about steady cash fed cattle trade this week.
Feeder Cattle futures closed an average of $1.40 higher.
Live Cattle futures closed an average of $1.18 higher (70¢ to $1.50 higher).
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live were $171/cwt. in the Southern Plains at $171/cwt., $169-$171 in Nebraska and $168-$171 in the western Corn Belt. Dressed delivered prices were $267-$272 in Nebraska and $268-$270 in the western Corn Belt.
Choice boxed beef cutout value was $2.35 higher Tuesday afternoon at $292.78/cwt. Select was 88¢ lower at $258.66/cwt.
Kansas City Wheat futures closed 20¢ to 24¢ higher on likely short covering.
Corn futures closed fractionally higher to 3¢ higher through Jly ’25.
Soybean futures closed 6¢ to 12¢ lower, likely pressured by profit taking.
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