Cattle futures closed higher on the Chicago Mercantile Exchange Tuesday, buoyed by recent gains in boxed beef pricing as market participants await clearer direction in direct cattle trading.
Live cattle contracts showed solid gains across multiple months, with April contracts climbing $1.17 to reach $240.27 per hundredweight. June live cattle futures advanced $1.15 to settle at $236.70.
Feeder cattle also posted strong performance, with March contracts gaining $1.20 to close at $366.30, while April feeders jumped $1.82 higher during the trading session.
The upward movement in cattle futures reflects ongoing strength in boxed beef values, which has provided underlying support to the livestock market as traders monitor developments in cash cattle negotiations.
