Cattle futures built on the previous session’s gains Monday, supported once again by stronger outside markets and stronger cash fed cattle prices at the end of last week.
Toward the close, Live cattle futures were an average of $1.04 higher. Feeder Cattle futures were an average of $2.34 higher.
Negotiated cash fed cattle trade was inactive on light demand in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $3-$5 lower in the Texas Panhandle at $223-225/cwt., $3-$6 lower in Kansas at $222-$225, $5 lower in Nebraska at $230-$232 and $3-$6 lower in the western Corn Belt at $230-233.50. Dressed delivered prices were mainly $8 lower in Nebraska at mostly $368 (a few up to $373.50) and $6-$8 lower in the western Corn Belt at $368-$370.
The five-area direct weighted average FOB live fed steer price was $5.37 lower last week at $229.51. The weighted averaged dressed delivered fed steer price was $7.05 lower at $369.52.
Choice boxed beef cutout value was 93¢ lower Monday afternoon at $395.56. Select was $1.17 higher at $384.10.
Grain futures were lower Monday with none of the hoped-for support from the Acreage and Grain Stocks reports.
Toward the close and through Mar ‘26 contracts, Corn futures were fractionally lower to 2¢ lower after 3¢ higher in spot Jly. Kansas City Wheat futures were 5¢ to 10¢ lower. Soybean futures were mostly 1¢ to 3¢ higher after 2¢ lower in the front two contracts.
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