Sharply higher nearby Lean Hog futures and firming wholesale beef values provided support for Cattle futures early in Tuesday’s session. By the end, though, Feeder Cattle closed lower, while Live Cattle mostly eked out minimal gains.
After 72¢ and 10¢ lower in the front two contracts, Live Cattle futures closed an average of 12¢ higher, except for 45¢ lower in away Oct.
Feeder Cattle futures closed an average of 54¢ lower (15¢ to $1.05 lower).
Choice boxed beef cutout value was $1.10 higher Tuesday afternoon at $192.45/cwt. Select was 18¢ lower at $190.47.
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