Cattle futures firmed and crept higher Tuesday without the previous day’s pressure from outside markets and supported by higher wholesale beef values.

Toward the close, Live Cattle futures were an average of 36¢ higher, except for 7¢ lower in near Apr. Feeder Cattle futures were an average of 59¢ higher, except for an average of 18¢ lower in the back two contracts.

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

Last week, FOB live prices were $249/cwt. in the Southern Plains, mainly $247-$248 in Nebraska and $245-$247 in the western Corn Belt. Dressed delivered prices were $388.

Choice wholesale values surged higher, perhaps with buyers positioning against the potential JBS strike.

Choice boxed beef cutout value was $8.21 higher Tuesday afternoon at $377.43/cwt. Select was $1.70 higher at $366.01.

Grain and Soybean futures were mixed on Tuesday.  

Toward the close, through near Sep contracts, KC HRW Wheat futures closed 4¢ to 5¢ lower. Corn futures were 1¢ lower to 1¢ higher. Soybean futures were 1¢ to 4¢ higher, supported by continued optimism about U.S. trade talks with China and perhaps the reported slower year-over-year harvest pace in Brazil.