Live Cattle futures meandered to a narrowly lower close Tuesday, with pressure and support apparently capped by strong trader interest in surging Lean Hog futures. Feeder Cattle closed lower on light trade, across a wide range.
Live Cattle futures closed an average of 29¢ lower.
Feeder Cattle futures closed an average of 80¢ lower, (7¢ lower in the back contract to $1.50 lower in spot Sep).
Wholesale beef values were lower on light to moderate demand and heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 75¢ lower Tuesday afternoon at $205.29/cwt. Select was $1.91 lower at $195.47.
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