Also, most feeder cattle contracts ended up slightly while hogs and pork bellies closed sharply higher.

Live cattle futures spiked on the open after Monday's significant boxed beef climb that prompted shorts to cover previously held positions. That also caused aggressive December/February forward spreading that outpaced Goldman roll business that was in its final day.

The roll, which began last Wednesday, involves funds moving some of their spot-December long positions into February. The shift is done in conjunction with the Goldman Sachs Commodity Index.

More positive news on the wholesale beef front midday Tuesday laid a foundation beneath front-month live cattle futures. And although December ran into technical resistance, the movement by funds into February helped the contract overcome its chart obstacles.

Source: FXSTREET