Cash cattle trade remained quiet Tuesday. According to the closing report, the Iowa hog base closed 1.61 lower compared with the Prior Day settlement $82.00-$89.00, weighted average $88.39). Corn futures gave back a good chunk of Monday's gains, closing down 16 in the September and down 14 1/4 in the December.
Futures closed lower, down 25 to 45. Weaker corn prices Tuesday limited the support seen in live cattle futures early in the week. Despite support in boxed beef values in the morning report Tuesday, traders focused on taking positions after Monday's rally and ...