Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, live prices were $149-$150/cwt. in the Texas Panhandle, $150 in Kansas and $153 in Nebraska and the western Corn Belt. Dressed prices were $242 in Nebraska and $240-$242 in the western Corn Belt.
Choice Boxed beef cutout value was 39¢ higher Tuesday afternoon at $264.94/cwt. Select was 13¢ higher at $236.05/cwt.
Cattle futures softened Tuesday, perhaps on election defensiveness.
Feeder Cattle futures closed mixed, from an average of 38¢ lower to an average of 4¢ to higher.
Live Cattle futures closed an average of 18¢ lower, except for unchanged and 22¢ higher in two contracts.
Corn futures closed mostly 3¢ to 8¢ lower.
Soybean futures closed mostly 3¢ to 6¢ lower.
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