Live Cattle futures firmed and mostly gained Tuesday, while Feeder Cattle futures continued to unwind with long position liquidation.

Toward the close, Live Cattle futures were an average of 71¢ higher, except for an average of 54¢ lower in the front two contracts. Feeder Cattle futures were an average of $9.61 lower.

Negotiated cash fed cattle trade ranged from limited on moderate demand in Nebraska to mostly inactive on light to moderate demand elsewhere through Tuesday afternoon, according to the Agricultural Marketing Service. Although too few to trend, there were some FOB live trades in Nebraska at $228-$230/cwt.

Established FOB live prices so far this week are $230 in the North with dressed delivered trades in Nebraska at $355-$360.

Last week, FOB live prices in the Southern Plains were $238. Dressed delivered prices in the western Corn Belt last week were $372 in a light test.

Choice boxed beef cutout value was $1.77 higher Tuesday afternoon at $379.65/cwt. Select was $1.66 lower at $360.00.

Grain and Soybean futures were higher again Tuesday on speculation the U.S. will ink a deal with China.

Toward the close and through Jly contracts, Corn futures were fractionally higher to 3¢ higher. KC HRW Wheat 5¢ to 6¢ higher. Soybean futures were 7¢ to 9¢ higher.