Sharply higher wholesale Choice beef cutout values helped boost Live Cattle futures Monday. That provided support to Feeder Cattle, after follow-through pressure tied in part to higher gain prices.
Live Cattle futures closed an average of 95¢ higher (55¢ higher to $1.80 higher in near Dec).
Feeder Cattle futures closed an average of 70¢ higher.
Wholesale beef values were sharply higher for Choice and weak on Select with light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $2.09 higher Monday afternoon at $204.80/cwt. Select was 39¢ lower at $191.89.