Cattle futures gained Tuesday, helped along by expectations of steady to higher cash fed cattle prices this week.

Feeder Cattle futures were an average of $1.78 higher. Live Cattle futures were an average of 72¢ higher, except for 22¢ lower in expiring Dec. 

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

FOB live prices last week were $192-$193/cwt. in the Southern Plains, $196-$197 in Nebraska and $195-$197 in the western Corn Belt. Dressed delivered prices were $307.

Choice boxed beef cutout value was $1.15 lower Tuesday afternoon at $324.22/cwt. Select was 24¢ lower at $294.52.

Grain and Soybean futures closed higher Tuesday with traders apparently adding South American weather risk premium as they squared year-end positions.

Soybean futures closed 14¢ to 19¢ higher. Corn futures were mostly 4¢ higher. Kansas City Wheat futures were mostly 2¢ higher.