Cattle futures continued higher Monday, following the significant bounce higher during the previous session and supported by last week’s higher negotiated cash fed cattle prices and the recent bounce in wholesale beef values.
Toward the close, Live Cattle futures were an average $1.14 higher. Feeder Cattle futures were an average of $2.82 higher.
Negotiated cash fed cattle trade was mostly inactive on light demand in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Based on the latest established trade, FOB live prices were mainly $3 higher in Kansas at mostly $232/cwt., $2 higher in Nebraska at $232 and steady to $2 higher in the western Corn Belt at $230-$232. Dressed delivered prices were $360, which was $4 higher in Nebraska and steady to $4 higher in the western Corn Belt.
The weighted average five-area direct FOB live fed steer price last week was $2.35 higher at $231.68/cwt. The weighted average dressed delivered fed steer price was $3.33 higher at $359.86.
Choice boxed beef cutout value was $3.73 higher Monday afternoon at $353.70/cwt. Select was $4.58 higher at $351.50.
The grain complex rallied Monday on short covering.
Toward the close, through near Jly Soybean futures were 15¢ to 17¢ higher. Corn futures were 6¢ to 7¢ higher. KC HRW Wheat futures were 4¢ to 6¢ higher.
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Major U.S. financial indices closed higher Monday with investor optimism regarding the weekend U.S. strike on Venezuela and capture of that nation’s president, reportedly based on drug trafficking charges.
The Dow Jones Industrial Average closed 594 points higher. The S&P 500 closed 43 points higher, and the NASDAQ was up 160 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 84¢ to $1.09 higher through the front six contracts.
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Cattle and beef markets in 2026 are poised to continue the path of the past few years, according to Derrell Peel, Extension livestock marketing specialist at Oklahoma State University.
“Tight cattle supplies, decreased beef production, and strong demand continue to support and elevate cattle and beef prices,” Peel explains in his weekly market comments. “Multi-decade lows in cattle inventories are the driving supply force that underpins cattle markets and the market is focused on the cow-calf sector, which holds the key to cattle supplies going forward.”
With cow-calf producers in mind, Peel says price signals indicate what to produce, how much to produce and how resources should be used for that production.
“Record-high calf prices and cow-calf returns is the market’s way of strongly encouraging increased calf production,” Peel explains. “Moreover, production resources, especially forage resources, should focus on calf production over alternatives such as backgrounding/stocker production. Cheap corn further emphasizes this, encouraging calf production in the country with feedlot placement at relatively lighter weights and finishing as quickly as possible.”
Listen to more of Peel’s market insights here.