Cattle futures charged higher Tuesday, helped along by last week’s record-high cash fed cattle prices and resurgent wholesale beef values.

Toward the close, Live cattle futures were an average of $3.29 higher. Feeder Cattle futures were an average of $5.65 higher.

Negotiated cash fed cattle trade was inactive on moderate demand in all major cattle feeding regions through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $235/cwt. in the Texas Panhandle, $235-$236 in Kansas, $245-$247 in Nebraska and mostly $245 in the western Corn Belt. Dressed delivered prices were mostly $383.

Choice boxed beef cutout value was $4.15 higher Tuesday afternoon at $369.94. Select was $4.35 higher at $345.94.

Grain and Soybean futures were lower Tuesday on likely bumper yields and international demand concerns.  

Toward the close and through away Jly contracts, Corn futures were 4¢ to 6¢ lower. Kansas City Wheat futures were 10¢ to 11¢ lower. Soybean futures were mostly 1¢ to 2¢ lower.