Cattle futures stepped higher Monday.
Toward the close, Live Cattle futures were an average of $3.11 higher. Feeder Cattle futures were an average of $5.49 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 $2 lower at mostly $246/cwt. and dressed delivered prices were $2 lower at $386.
The five-area direct weighted average FOB live fed steer price was $1.84 lower at $246.18. The weighted average dressed delivered fed steer price was $2.14 lower at $386.
Choice boxed beef cutout value was $2.56 higher Monday afternoon at $389.56/cwt. Select was $2.53 higher at $388.60.
Grain and Soybean futures rose Monday with risk-on buying.
Toward the close, and through near Dec contracts, Kansas City HRW Wheat futures were 7¢ higher. Corn futures were mostly 5¢ to 6¢ higher. Soybean futures were mostly 9¢ to 12¢ higher through near Nov.
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