Episode Details

Cattle futures were lower Tuesday with likely profit taking from the recent gains.

Toward the close, Live Cattle futures were an average of $1.70 lower. Feeder Cattle futures were an average of $3.43 lower.

Negotiated cash fed cattle was inactive on light demand in the North through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were steady to $6 higher in Nebraska at mostly $223-$224/cwt. and $3-$4 higher in the western Corn Belt at mostly $222-$223. Dressed delivered prices were mostly $5 higher at mainly $350.

Choice boxed beef cutout value was 77¢ higher Tuesday afternoon at $376.08/cwt. Select was $1.81 higher at $356.36.

Grain and Soybean futures gained on Tuesday.

Through late afternoon and the front four contracts, Soybean futures were 14¢ to 15¢ higher. Corn futures were mostly 1¢ to 2¢ higher. Kansas City HRW Wheat futures were 2¢ to 3¢ higher.