Most beef futures began the session up slightly due to robust wholesale beef sales, reduced show lists and underlying chart backing. On the other hand, rear-months ignored electronic-CBOT corn gains that spilled over into its outcry trade.

Spot-February live cattle eventually eased from highs as anxiety started to build regarding this week's potential cash outcome. Spreading out of nearby-April into other month options caused the nearby contract to slip beneath first-level 20-day-moving-average chart support. But, April held at the second-level 10-day moving average mark.

After putting up new contract highs on Tuesday, bullish deep-month cattle speculators kept their distance even when CBOT corn surged even higher as the morning progressed. However, corn contracts later collapsed as livestock markets began to close.

Source: FXSTREET