Cattle futures closed mixed Tuesday as bullish fundamentals battled with some likely positioning ahead of Wednesday’s monthly World Agricultural Supply and Demand Estimates.

Feeder Cattle futures closed an average of 62¢ higher (5¢ to 95¢ higher).

Live Cattle futures closed narrowly mixed, from an average of 30¢ lower to an average of 12¢ higher.

Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Tuesday afternoon, according to the Agricultural Marketing Service.

Last week, live prices were $165/cwt. Dressed prices were $265 in Nebraska and $262-$265 in the western Corn Belt.

Choice boxed beef cutout value was $2.27 lower Tuesday afternoon at 287.93/cwt. Select was $1.02 higher at $277.49/cwt.

Corn futures closed 2¢ to 5¢ lower through Jly ‘24, and then fractionally lower to 1¢ lower.

KC HRW Wheat closed narrowly mixed, mostly 1¢ lower to 1¢ higher.

Soybean futures closed 12¢ to 15¢ lower in the front three contracts, and then mostly 2¢ to 5¢ lower.