Monday's rally in hogs futures partly spilled over into live cattle, getting support as traders weigh signs of pork demand from China against broad-based concerns about the euro zone.
Live cattle for August finished essentially flat at $1.147 a pound while October gained 0.45 cent to $1.207. Meanwhile, August feeder cattle fell 0.25 cent to $1.434 a pound.
Higher pork buying by China could lead to tighter supply of meat and protein generally, analysts say, while further boosting U.S. meat exports, which are more lucrative for meat packers than domestic sales.
Initial asking prices for cattle in the Texas Panhandle and Kansas were reported at mostly $1.17 a pound on a live basis. No bids have been established yet and may not be available until Tuesday afternoon or Wednesday.
Sales last week in Texas/western Oklahoma were $1.1450 to mostly $1.15 a pound and in Kansas mostly $1.14 to $1.15 a pound.
USDA's midday beef price quote for choice grade carcasses was off 29 cents to $178.90 a hundred pounds, and select fell 6 cents to $174.00 a hundred pounds on 140 total loads.
The latest HedgersEdge packer margin index was plus $29.90 a head, compared with $31.75 the previous day. This is an estimate of packer returns on cattle slaughtered and processed expressed in the form of an index.