Kansas City Wheat futures charged higher 47¢ to 53¢ in old-crop contracts. Corn futures closed mostly 1¢ to 2¢ lower, though, and Soybean futures closed 9¢ to 14¢ lower through Sep ‘23.
That helped Cattle futures hold on to most of the previous session’s strong gains.
Feeder Cattle futures closed mixed from an average of 33¢ lower to an average of 25¢ higher.
Live Cattle futures closed unchanged to an average of 47¢ higher, from (2¢ to $1.10 higher).
Wholesale beef prices continued to show signs of the seasonal bloom. Choice Boxed beef cutout value was $2.39 higher Tuesday afternoon at $257.90/cwt. Select was $1.10 lower at $248.84.
Negotiated cash fed cattle trade remained stuck at the gate.
Live prices last week were at $138/cwt. in the Southern Plains and Nebraska and at $138-$140 in the western Corn Belt. Dressed prices were $220 in Nebraska and $219-$222 in the western Corn Belt.
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