Feeder Cattle futures extended gains on Tuesday, while Live Cattle closed a touch softer as open interest continues to decline, but retained most of the previous session’s gain.
Except for 5¢ higher in away Feb, Live Cattle futures closed an average of 21¢ lower.
Feeder Cattle futures closed an average of 68¢ higher.
Wholesale beef values were steady to weak on light to moderate demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 63¢ lower Tuesday afternoon at $210.93/cwt. Select was 9¢ higher at $207.51.
Corn futures closed mostly 1¢ to 3¢ higher.
Soybean futures closed mostly 2¢ to 3¢ higher.