There was no cash fed cattle trade to speak of through Tuesday afternoon, as expected.
Cattle futures closed mainly narrowly mixed, amid likely profit taking and position squaring, buoyed by sharply higher outside markets.
After $1.00 lower in spot Feb, Live Cattle futures an average of 19¢ lower to an average of 11¢ higher.
Feeder Cattle futures closed from 27¢ lower to 30¢ higher.
Grain futures closed mainly higher on speculation that the U.S. and China will reach a resolution on trade sooner rather than later.
Corn futures closed 4¢ to 5¢ higher through Jul ’20 and then mostly 1¢ to 2¢ higher.
Soybean futures closed mostly 10¢ to 12¢ higher.
Wholesale beef values were firm on Choice and lower on Select with light to moderate demand and moderate offerings, according to the Agricultural Marketing Service.Choice boxed beef cutout value was 28¢ higher Tuesday afternoon at $217.16/cwt. Select was 86¢ lower at $213.00.