After follow-through pressure, Feeder Cattle futures closed higher, able to claw back some of the losses from the previous day, although trade continued light amid range-bound chop. Live Cattle drifted to a mixed close.
Live Cattle futures closed an average of 42¢ lower through the front four contracts, (5¢ to 52¢ lower) and then an average of 26¢ higher.
Feeder Cattle futures closed an average of 52¢ higher across a broad range of 17¢ higher to $1.07 higher, with most of the support in deferred contracts.
Boxed beef cutout values were weak to lower on moderate demand and offerings through Tuesday afternoon, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 86¢ lower at $216.83/cwt. Select was 32¢ lower at $201.57.
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