Episode Details

Cattle futures were lower Tuesday amid struggling cash fed cattle prices and higher feed costs.

Toward the close, Live Cattle futures were an average of $1.14 lower. Feeder Cattle futures were an average of $1.42 lower.

Negotiated cash fed cattle trade was mostly inactive on light demand in the North through Tuesday afternoon, according to the Agricultural Marketing Service. Last week, FOB live prices were $218-$222/cwt. and dressed delivered prices were mostly $345. There was no established trade in the Southern Plains.

Choice boxed beef cutout value was $3.93 higher Tuesday afternoon at $379.75/cwt. Select was $1.96 higher at $360.45.

Grain and Soybean futures were higher on Tuesday, supported by yield concerns, buyer demand and likely inflation hedging.

Toward the close and through the front four contracts, Corn futures were 6¢ to 8¢ higher. Soybean futures were 28¢ to 30¢ higher. Kansas City HRW Wheat futures were 5¢ to 16¢ higher.