Cattle futures moved ahead Tuesday, mostly erasing losses from the previous session.
Live Cattle futures closed an average of 81¢ higher (52¢ to $1.32 higher).
Feeder Cattle futures closed an average of $1.12 higher (75¢ to $1.50 higher).
Negotiated cash fed cattle trade ranged from mostly inactive on light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $183/cwt. in the Southern Plains, $183-$184.50 in Nebraska and $183-$184 in the western Corn Belt. Dressed delivered prices were $290.
Choice boxed beef cutout value was $1.51 lower Tuesday afternoon at $304.79/cwt. Select was 30¢ lower at $294.87/cwt.
Grain and Soybean futures softened Tuesday with likely pressure from profit taking and producer selling.
Corn futures closed mostly 3¢ to 4¢ lower.
KC HRW Wheat futures closed mostly 6¢ to 11¢ lower.
Soybean futures closed 1¢ to 6¢ lower.
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