Grain and Soybean futures extended the previous session’s gains Tuesday with Corn futures closing mostly 2¢ to 6¢ higher and Soybean futures closing 5¢ to 7¢ higher.
Stronger Grain futures continued to cap Cattle futures.
Feeder Cattle futures closed an average of 40¢ lower, except for 22¢ higher in spot Mar.
Live Cattle futures closed an average of 39¢ lower.
Negotiated cash fed cattle trade ranged from inactive on very demand to a standstill through Tuesday afternoon with too few transactions to trend, according to the Agricultural Marketing Service.
Live prices last week were at $138/cwt. in the Southern Plains and Nebraska and at $140 in the western Corn Belt. Dressed prices were at $221 in Nebraska at $222 and in the western Corn Belt.
Choice Boxed beef cutout value was $1.47 higher Tuesday afternoon at $259.97/cwt. Select was 61¢ lower at $251.89.
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