Despite seasonally higher wholesale beef values and last week’s higher cash market, Cattle futures closed lower on Tuesday, led by Feeder Cattle, but still basically paddling sideways.
Live Cattle futures closed mostly an average of 51¢ lower.
Feeder Cattle futures closed an average of $1.39 lower.
Wholesale beef values were higher on moderate to good demand and light offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.52 higher Tuesday afternoon at $215.28/cwt. Select was $1.77 higher at $202.88.