Cattle futures firmed but closed mixed on Tuesday.

Toward the close, Feeder Cattle futures were an average of $1.80 higher. Live Cattle futures were narrowly mixed from an average of 21¢ lower, to an average of 19¢ higher.

Given the temporary suspension of Mexican cattle imports, and the timing late last month, it will be interesting to see how traders position ahead of Friday’s Cattle on Feed report. Depending on the source, analyst estimates ahead of the report see November placements about 4% less year over year and marketings down about 2%, leaving cattle on feed Dec. 1 about even.

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

Last week, FOB live prices were $191-$192/cwt. in the Texas Panhandle, $191 in Kansas, $195 in Nebraska and $193-$196 in the western Corn Belt. Dressed delivered prices were $300-$305.

Choice boxed beef cutout value was $1.74 lower Tuesday afternoon at $315.63/cwt. Select was $1.07 lower at $288.50.

Grain and Soybean futures softened Tuesday.

Toward the close and through Sep ’25 contracts, Corn futures were 1¢ to 2¢ lower. Kansas City Wheat futures were 6¢ to 7¢ lower. Soybean futures were 6¢ to 8¢ lower.