Cattle futures wandered on both sides of steady on Monday, favoring a slightly softer tone.
Toward the close, Live Cattle futures were an average of 35¢ lower. Feeder Cattle futures were an average of 78¢ lower across a wide range.
Negotiated cash fed cattle trade was mostly inactive on light to moderate demand in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $237/cwt. in the Texas Panhandle, $235-$237 in Kansas, $232-$235 in Nebraska and mostly $232 in the western Corn Belt. Dressed delivered prices were $365.
The weighted average five-area direct FOB live fed steer price last week was $4.86 lower at $232.65/cwt. The weighted average dressed delivered fed steer price was $5.91 lower at $364.97.
Choice boxed beef cutout value was 75¢ lower Monday afternoon at $370.68/cwt. Select was $3.55 lower at $348.89.
Corn and Soybean futures trended lower on Monday with harvest pressure.
Toward the close and through Jly contracts,
Corn futures were fractionally lower. Soybean futures were 4¢ lower. KC HRW Wheat were 1¢ to 2¢ higher.
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