Cattle futures basically paddled in place Tuesday, awaiting the week’s cash direction.
Live Cattle futures closed an average of 33¢ lower.
Feeder Cattle futures closed narrowly mixed, from an average of 14¢ lower in three contracts to an average of 16¢ higher.
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill, with too few transactions to trend, through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183 in the Texas Panhandle, $182-$183 in Kansas, $183 in Nebraska and $182-$184 in the western Corn Belt. Dressed delivered prices were $292 in Nebraska and $290-$292 in the western Corn Belt.
Choice boxed beef cutout value was 5¢ lower Tuesday afternoon at $301.74/cwt. Select was $2.41 higher at $290.40/cwt.
Corn futures closed fractionally higher to 3¢ higher.
KC HRW Wheat futures closed mostly 8¢ to 9¢ higher.
Soybean futures closed 2¢ to 4¢ higher through near Aug and then mostly unchanged to fractionally lower.
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