Aggressive increases in grain futures pushed Feeder Cattle futures sharply lower on Tuesday, which squeezed Live Cattle. Although pressure moderated as the session wore on, Cattle futures closed sharply lower.
Live Cattle futures closed an average of $1.44 lower ($1.00-$1.87 lower).
Feeder Cattle futures closed an average of $2.31 lower ($1.50 to $2.82 lower).
Choice boxed beef cutout value was $1 lower Tuesday afternoon at $208.05/cwt. Select was 56¢ lower at $195.25.