Cattle futures closed lower Tuesday, with little in the way of fundamental news and perhaps some technical pressure.
Live Cattle futures closed an average of 39¢ lower.
Feeder Cattle futures closed an average of 58¢ lower.
Grain markets continued to decline Tuesday, with positive crop weather news and the stronger U.S. dollar.
Corn futures closed 3¢ to 5¢ lower though Jul ’20 and then fractionally lower to 1¢ lower.
Soybean futures closed mostly 10¢ to 14¢ lower.
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 34¢ lower Tuesday afternoon at $212.93/cwt. Select was 5¢ lower at $189.16.