Although increasing Corn futures capped gains, Live Cattle futures closed higher again Tuesday, helped along by resurgent Lean Hogs. Feeder Cattle futures mostly edged higher.
Live Cattle futures closed an average of 47¢ higher.
Except for unchanged in Nov and 5¢ lower in Jan, Feeder Cattle futures closed an average of 5¢ higher.
Corn futures closed 2¢ to 4¢ higher through Sep ’20 and then mostly 1¢ higher.
Soybean futures closed 1¢ to 2¢ lower through Aug ’20 and then unchanged to fractionally mixed.
Wholesale beef values were steady to firm on moderate to good demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 46¢ higher Tuesday afternoon at $213.78/cwt. Select was 12¢ higher at $189.71.