Cattle futures were lower Tuesday with profit taking and floundering wholesale beef values.

Toward the close, Live Cattle futures were an average of $1.03 lower (7¢ lower toward the back to $2.22 lower at the front), except for 10¢ higher in the back contract.

Feeder Cattle futures were an average of $1.48 lower.

Negotiated cash fed cattle trade was light on moderate to good demand in Kansas through Tuesday afternoon, according to the Agricultural Marketing Service. FOB live prices were steady to $1 higher at $229/cwt.

Trade was limited on light to moderate demand in Nebraska and the western Corn Belt. Although too few to trend, there were some dressed delivered trades in Nebraska at $356 and some FOB live trades in the western Corn Belt at $229. Last week, FOB live prices were $228-$229 in both regions. Dressed delivered prices were $356-$358.

Choice boxed beef cutout value was $7.10 lower Tuesday afternoon at $355.77/cwt. Select was $1.10 lower at $349.59. The Choice-Select spread of $6.18 was the lowest since May of 2024.

Grain futures were higher Tuesday.

Toward the close, through near Jly, KC HRW Wheat futures were 5¢ to 7¢ higher with some likely risk premium added for the Ukraine-Russia war.

Corn futures were fractionally higher.

Soybean futures were 1¢ to 2¢ lower.