Cattle futures bounced higher Tuesday with support from stronger wholesale beef values. Feeder Cattle were also buoyed by hefty cash trade.
Feeder Cattle futures closed an average of $1.87 higher ($1.47 to $2.37 higher).
Live Cattle futures closed an average of 63¢ higher.
Choice boxed beef cutout value was $2.99 higher Tuesday afternoon at 301.66/cwt., the highest level since the first part of November. Select was $1.80 higher at $288.38/cwt.
Negotiated cash fed cattle trade was at a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
FOB live prices last week were $173.50/cwt. in the Texas Panhandle, $173 in Kansas $173 in Nebraska and $175 in the western Corn Belt. Dressed delivered prices were $273-$274.
Soybean futures closed mostly 8¢ to 15¢ higher through Sep ’25 and then 6¢ higher with chatter about softer South American production.
Corn futures closed fractionally higher to 1¢ higher.
KC HRW Wheat futures closed mostly 4¢ to 5¢ higher.
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