Last week’s hefty cash prices helped Live Cattle futures mostly gain Monday.
Toward the close, Live Cattle futures were an average of 80¢ higher, except for an average of 9¢ lower in the back three contracts. Feeder Cattle futures were an average of 90¢ lower, except for 70¢ higher in waning spot Jan.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were steady to $1 higher in the Southern Plains at $201-$202/cwt., $7-$8 higher in Nebraska at $210-$212/cwt. and $6-$7 higher in the Western Corn Belt at $210-$212. Dressed delivered prices were $6-$8 higher in Nebraska at $328-$330 and $8-$10 higher in the western Corn Belt at $330.
The five-area direct weighted average FOB live steer price last week was $5.52 higher at $209.19/cwt. The weighted average dressed delivered steer price was $7.74 higher at $329.72.
Choice boxed beef cutout value was $2.16 higher Monday afternoon at $330.08/cwt. Select was $4.26 higher at $320.55.
Grain and Soybean futures eased lower Monday with pressure including growing concern about President Trump’s recent promise to increase tariffs Feb. 1.
Toward the close and through Sep ’25 contracts, Corn futures were 3¢ to 4¢ lower. Kansas City Wheat futures were 6¢ lower. Soybean futures were 6¢ to 10¢ lower.
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Major U.S. financial indices closed mixed Monday with primary pressure on artificial intelligence companies.
The Dow Jones Industrial Average closed 289 points higher. The S&P 500 closed 88 points lower. The NASDAQ was down 612 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures on the CME were $1.38 to $1.55 lower through the front six contracts.
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Even though total feedlot placements were about 1.6% less last year than in 2023, Derrell Peel, Extension livestock marketing specialist at Oklahoma State University points out feedlots were able to hold monthly average inventories close to par by feeding cattle longer.
“With the slower turnover rate in place, feedlots will likely see inventories fall in 2025 with declining placements,” Peel explains, in his weekly market comments. “Days on feed in feedlots will likely remain large but are unlikely to continue increasing enough to hold feedlot inventories, as tight feeder supplies become more apparent.”