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 (see below).
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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Major U.S. financial indices continued higher Monday, with growing optimism about trade talk progress.
The Dow Jones Industrial Average closed 275 points higher. The S&P 500 closed 32 points higher. The NASDAQ was up 105 points.
Through midafternoon, West Texas Intermediate Crude Oil futures (CME) were 14¢ to 57¢ lower through the front six contracts.
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Anyone expecting the typical fireworks following USDA’s much anticipated Acreage report published Monday were disappointed, as it came in close to estimates previously made in the Prospective Plantings (PP) report at the end of March.
Corn planted area for all purposes in 2025 was estimated at 95.2 million acres, up 5% or 4.61 million acres from last year, which was 123,000 fewer acres than estimated in the PP report. The total would be the third-highest planted acreage in the United States since 1944. Compared with last year, planted acreage was expected to be up or unchanged in 41 of the 48 estimating states. Area harvested for grain, projected at 86.8 million acres, would be 5% more than last year.
Soybean planted area for 2025 was estimated at 83.4 million acres, down 4% from last year and 115,000 fewer acres than in the PP report. Compared with last year, planted acreage was down or unchanged in 25 of the 29 estimating States.
All wheat planted area for 2025 was estimated at 45.5 million acres, down 1% from 2024 and 128,000 acres more than in the PP report. The 2025 winter wheat planted area, at 33.3 million acres, was down less than 1% from last year but up slightly from the previous estimate.