Cattle futures moved solidly lower Tuesday after early follow-through support. The surge higher in corn prices helped Live Cattle eke out a mostly positive close but kept pressure on Feeder Cattle. Keep in mind that trade was light in both pits.
Except for 12¢ lower and 25¢ lower on either end of the board, Live Cattle futures closed an average of 26¢ higher.
Except for unchanged in the back two contracts, Feeder Cattle futures closed an average of 57¢ lower (15¢ to 82¢ lower).
Boxed beef cutout values were steady to firm on light to moderate demand and light offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 21¢ lower in the afternoon at $224.92/cwt. Select was 59¢ higher at $203.39.
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