Live Cattle futures closed a touch higher Tuesday, supported by stronger wholesale beef values. Feeder Cattle futures mostly leaked lower, perhaps helped along by the surge in grain markets. However, trade was extremely light in both pits.
Live Cattle futures closed an average of 36¢ higher.
Except for an average of 25¢ higher in the front two contracts, Feeder Cattle futures closed an average of 32¢ lower (5¢ to 80¢ lower).
Boxed beef cutout values were higher on moderate to good demand and light to moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.21 higher Tuesday afternoon at $209.64/cwt. Select was $1.61 higher at $201.27.