Negotiated cash fed cattle trade opened on Tuesday with moderate demand and light to moderate trade in the Southern Plains and the Northern Plains. Live prices were at $126/cwt. which was $1 lower in the Southern Plains and $2-$3 lower in Nebraska.
Cattle futures traded on either side of steady early in Tuesday’s session and then gave way to continued pressure stemming from light volume, technical selling and overall bearishness.
Live Cattle futures closed an average of 76¢ lower (57¢ to $1.15 lower).
Feeder Cattle futures closed an average of 78¢ lower (67¢ to 92¢ lower).
Choice boxed beef cutout value was $1.52 lower Tuesday afternoon at $223.35/cwt. Select was 55¢ lower at $216.74.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More