Surging grain futures prices helped pressure Feeder Cattle futures to start the week. That helped cap early support in Live Cattle. Lower outside markets, a sharp decline in Lean Hog futures and more cool, wet weather that could continue to dampen summer grilling demand also weighed.
Live Cattle futures closed narrowly mixed, from an average of 25¢ lower to an average of 21¢ higher.
Feeder Cattle futures closed an average of $1.17 lower.
Wholesale beef values were higher on moderate to good demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.65 higher Tuesday afternoon at $223.29/cwt. Select was $1.98 higher at $210.45.