Cattle futures moved higher Tuesday, except for slightly lower in nearby Live Cattle contracts.
Toward the close, Live cattle futures were an average of 50¢ higher, except for an average of 37¢ lower in the front three contracts. Feeder Cattle futures were an average of $1.16 higher.
Negotiated cash fed cattle trade was mostly inactive on moderate demand in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $230/cwt. in the Texas Panhandle, $230-$231 in Kansas and $240 in the North where dressed delivered prices were $380.
Choice boxed beef cutout value was 43¢ lower Tuesday afternoon at $372.50. Select was $2.11 lower at $347.94.
Grain futures were mixed Tuesday with Corn and Soybeans down on crop ratings and an improved weather outlook.
Toward the close and through away Jly contracts, Corn futures were 4¢ lower. Kansas City Wheat futures were 4¢ to 8¢ higher. Soybean futures were unchanged to 3¢ lower.
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