Feeder Cattle futures closed sharply lower on Tuesday, leading Live Cattle along, but to a lesser degree. There continues to be plenty of uncertainty surrounding the top in fed cattle prices, as well as consumer beef demand, relative to forward-contracted beef, coming out Thanksgiving. Lower wholesale beef values also contributed pressure.
Live Cattle futures closed an average of $1.43 lower (95¢ to $1.90 lower).
Feeder Cattle futures closed an average of $2.40 lower ($1.07 to $3.07 lower).
Choice boxed beef cutout value was $2.14 lower Tuesday afternoon at $210.67/cwt. Select was 34¢ lower at $193.49.
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