Cattle futures broke hard from the outset Tuesday, following the previous session’s strong rally. Apparent short covering by the end lifted futures well off of session lows. Overall, it was the same continued light trade and lack of open interest mired in a months-old range.
Live Cattle futures closed an average of 70¢ lower (40¢ to $1.05 lower).
Feeder Cattle futures closed an average of 88¢ lower.
Wholesale beef values were weak to lower on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.10 lower Tuesday afternoon at $212.53/cwt. Select was 44¢ lower at $204.41.
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