Market optimism grew on Tuesday with more chatter about short front-end fed cattle supplies in the north and the increasing likelihood that cash prices can move higher again this week. There was no negotiated trade reported.
Other than an average of 5¢ lower in Feb, Live Cattle futures closed an average of 34¢ higher (12¢ to 90¢ higher in spot Apr).
Other than 12¢ to 50¢ lower in three contracts, Feeder Cattle futures closed an average of 34¢ higher.
Choice boxed beef cutout value was 34¢ higher Tuesday afternoon at $212.13/cwt. Select was 40¢ lower at $199.58.
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