Cattle futures took another step lower on Tuesday after a glimmer of promise in early trade. Demand uncertainty seems to be the main driver, while funds largely retain their long positions.
Other than 5¢ higher in spot Dec, Live Cattle futures closed an average of 55¢ lower (15¢ to 87¢ lower).
Feeder Cattle futures closed an average of $1.50 lower (55¢ to $2.12 lower) except for marginally higher in the back two contracts.
Choice boxed beef cutout value was 89¢ higher on Tuesday afternoon at $209.08/cwt. Select was $1.09 higher at $186.63.
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