Cattle futures got some spark Tuesday—especially Feeder Cattle— credited in part to oversold conditions.
Other than unchanged in the back contract, Live Cattle futures closed an average of 57¢ higher.
Except for 60¢ higher in spot Nov, Feeder Cattle futures closed an average of $2.12 higher ($1.32 to $3.15 higher).
Wholesale beef values were lower on light to moderate demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.47 lower Tuesday afternoon at $214.08/cwt. Select was $1.41 lower at $198.98.