Feeder Cattle futures continued to gain ground on Tuesday with support from recent cash markets, lending support to Live Cattle. Plenty of folks will be looking for a hint of direction from this morning’s weekly Fed Cattle Exchange auction.
Live Cattle futures closed an average of 51¢ higher through the front four contracts and then an average of 20¢ higher.
Feeder Cattle futures closed an average of 70¢ higher.
Choice boxed beef cutout value was 51¢ lower Tuesday afternoon at $192.11/cwt. Select was $1.13 higher at $188.83.
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