Feeder Cattle futures closed an average of 35¢ higher, except for 80¢ and 72¢ lower at either end of the board, supported by continued erosion in Corn futures.
Live Cattle futures closed an average of 25¢ lower, awaiting cash direction.
Wheat futures closed mostly 1¢ to 4¢ lower Tuesday with likely profit taking.
Corn futures closed 9¢ to 11¢ lower through Jly ‘24, and then mostly 7¢ lower.
Soybean futures closed mostly 19¢ to 36¢ lower.
Negotiated cash fed cattle trade was at a standstill in all regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were $170/cwt. in the Southern Plains, mostly $176 in Nebraska and $175-$177 in the western Corn Belt. Dressed prices were $280.
Choice boxed beef cutout value was $2.51 lower Tuesday afternoon at $299.47/cwt. Select was 36¢ lower at $284.35/cwt.
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