Cattle futures meandered Tuesday, awaiting weekly cash direction.
Toward the close, Live Cattle futures were an average of 24¢ lower, except for an average of 2¢ higher in the back two contracts. Feeder Cattle futures were narrowly mixed, from an average of 29¢ lower in five contracts to an average of 19¢ higher.
Negotiated cash fed cattle trade was inactive on light demand in all cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $234-$236/cwt. in the Texas Panhandle, $233-$236 in Kansas $234-$236 in Nebraska and mainly $235 in the western Corn Belt.
Dressed delivered prices were $370 in Nebraska and $365-$370 in the western Corn Belt.
Choice boxed beef cutout value was 79¢ lower Tuesday afternoon at $368.11/cwt. Select was $1.93 lower at $365.19.
Grain and Soybean futures were mixed Tuesday.
Toward the close, through near Sep contracts, Corn futures were 1¢ lower. KC HRW Wheat futures were 1¢ to 2¢ higher. Soybean futures were 3¢ to 5¢ higher.
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