Cattle futures tried to gain early again in Tuesday’s session but broke back, apparently spurred in part by a knee-jerk reaction to mid-day Choice boxed beef prices which were $4.87/lower; Select was $1.69 lower.

Before settlement, Live Cattle futures were an average of $1.52 lower. Feeder Cattle futures were an average of $2.92 lower.

Negotiated cash fed cattle trade ranged from limited on light demand to a standstill through Tuesday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.

Last week, FOB live prices were $190/cwt. in the Texas Panhandle and $190-$193 in Kansas.

The previous week, FOB live prices were $198 in Nebraska and $198-$200 in the western Corn Belt. Dressed delivered prices were $314 in Nebraska and $312-$315 in the western Corn Belt.

Choice boxed beef cutout value was $4.81 lower Tuesday afternoon at $325.66/cwt. Select was 41¢ lower at $304.31

Front-month grain futures firmed Tuesday while Soybean futures continued to erode. Positive weather continues to apply pressure. As the week continues, traders will also be positioning ahead of Friday’s monthly World Agricultural Supply and Demand Estimates.

Toward the close and through Jly ’25 contracts, Corn futures were mostly fractionally higher. Kansas City Wheat futures were mostly fractionally higher to 8¢ higher in spot Jly. Soybean futures were 14¢ to 21¢ lower.