Feeder Cattle futures moved higher Monday, helped along by wilting Corn futures, while Live Cattle futures sought near-term direction. Feeder Cattle futures were an average of 62¢ higher.
Before settlement, Live Cattle futures were narrowly mixed, from 25¢ lower to 37¢ higher.
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $188/cwt. in the Southern Plains $198 in Nebraska and mostly $198 in the western Corn Belt. Dressed delivered prices were $312 in Nebraska and mostly $312 in the western Corn Belt.
Choice boxed beef cutout value was 57¢ lower Monday afternoon at $321.49/cwt. Select was $2.51 higher at $304.82/cwt.
Grain and Soybean futures took a step lower Monday, pressured by the continued positive weather outlook. Toward the close and through Jly ’25 contracts, Corn futures were 11¢ to 12¢ lower. Kansas City Wheat futures were 12¢ to 16¢ lower. Soybean futures were 26¢ to 29¢ lower.
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