Corn futures eased mostly 3¢ to 4¢ lower, providing some lift to Cattle futures.
Feeder Cattle futures closed an average of $1.26 higher (75¢ at the back to $2.25 in spot Sep). Live Cattle futures closed an average of 67¢ higher.
Negotiated cash fed cattle trade ranged from slow on light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were a few early live sales in Nebraska at $145/cwt.
Last week, live prices were $142 in the Southern Plains, $145 in Nebraska and $147-$148 in the western Corn Belt. Dressed prices were $232 in Nebraska and $232-$234 in the western Corn Belt.
Choice Boxed beef cutout value was $3.25 lower Tuesday afternoon at $259.79/cwt. Select was $3.07 lower at $239.68/cwt.
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