Cattle futures closed lower on Tuesday, helped along by lighter trade and sagging wholesale beef values. Other potential pressures on the day could include everything from positioning ahead of Friday’s monthly Cattle on Feed report, to the potential for cattle getting bunched as winter grazing conditions dwindle, to pushing beads on the year-end abacus.
Except for fractionally mixed in the front two contracts, Live Cattle futures closed an average of 69¢ lower.
Feeder Cattle futures closed an average of $1.79 lower ($1.17 to $2.45 lower in spot Jan).
Choice boxed beef cutout value was $1.39 lower on Tuesday afternoon at $201.76/cwt. Select was 69¢ lower at $184.32.
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