As suspected, negotiated cash fed cattle trade remained undeveloped through Tuesday afternoon.
Cattle futures closed mixed (Live Cattle) to a touch lower (Feeder Cattle) on Tuesday, pressured by sharply lower outside markets and light trade volume, as much as anything. There was also wait-and-see for Wednesday’s monthly Cattle on Feed report (see below).
Live Cattle futures closed 45¢ lower to 20¢ higher.
Feeder Cattle futures closed an average of 18¢ lower.
Wholesale beef values were steady to firm on moderate demand and heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 70¢ higher Tuesday afternoon at $214.09/cwt. Select was 14¢ lower at $198.43.