Negotiated cash fed cattle traded ended up generally $2.00 to $2.50 lower on a live basis last week at mostly $107 (range of $106.00 to $108.50). Dressed trade was $3-$4 lower at $170.
Despite softer cash prices, Cattle futures gained strength Monday, surprising more than a few folks. Support likely included firming wholesale beef values and opening the books on a new month.
Live Cattle futures closed an average of $1.20 higher.
Feeder Cattle futures closed an average of $2.09 higher ($1.62 to $2.70 higher).
Wholesale beef values were higher on fairly good demand and heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.13 higher Monday afternoon at $210.82/cwt. Select was 94ยข higher at $202.21.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More