Cattle futures rose again Monday, building on last week’s gains, supported by higher negotiated cash fed cattle trade in the Southern Plains late Friday and firmer wholesale beef values.
Toward the close, Live Cattle futures were an average of $1.15 higher. Feeder Cattle futures were an average of $2.24 higher.
Negotiated cash fed cattle trade was inactive on light demand in all cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were mostly $3 higher in the Southern Plains at mainly $238/cwt. and mostly steady in the North at mainly $235. Dressed delivered prices were mostly steady at mainly $372.
The five-area direct weighted average FOB live fed steer price last week was 61¢ higher at $235.69/cwt. The weighted average dressed delivered fed steer price was 45¢ lower at $371.70.
Choice boxed beef cutout value was $1.13 higher Monday afternoon at $394.10/cwt. Select was $1.14 higher at $391.01.
Grain futures and Soybean futures were lower Monday with profit taking, positioning for the end of the month and quarter, as well as Tuesday’s Prospective Plantings and Grain Stocks reports.
Toward the close, and through near Sep contracts, Kansas City HRW Wheat futures were 5¢ to 6¢ lower. Corn futures were 6¢ to 7¢ lower. Soybean futures were unchanged to 1¢ lower.
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Major U.S. financial indices continued mostly lower Monday as crude oil prices rose and tech stocks slid.
The Dow Jones Industrial Average closed 49 points higher. The S&P 500 closed 25 points lower. The NASDAQ was down 153 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were 37¢ lower to $5.68 higher through the front six contracts.
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Resilience of the global economy is being tested by the evolving conflict in the Middle East, which has generated new inflationary pressures while creating significant uncertainty, according to the latest Interim Economic Outlook from the Organization for Economic Cooperation and Development (OECD).
Global growth was steady heading into this year, supported by the strength of technology-related production, lower effective tariffs on U.S. imports and the momentum carried over from 2025. The energy supply shock following the onset of the conflict in the Middle East is expected to significantly weigh on global growth while putting new upward pressure on inflation, according to the OECD.
As a result of these developments, the Outlook projects global growth of 2.9% in 2026 and 3.0% in 2027. GDP growth in the United States is projected at 2.0% in 2026, before moderating to 1.7% in 2027.
The evolution of the conflict in the Middle East is highly uncertain and poses considerable risks to these baseline projections, according to OECD analysts. A more long-lasting disruption, with energy prices remaining elevated beyond mid-2026, would further reduce growth prospects.
Inflation pressures will persist for a longer period, with inflation now expected to be higher in 2026 than previously projected, reflecting the surge in global energy prices, according to the Interim Outlook. Headline inflation in G20 countries is projected to be 4.0% in 2026, easing to 2.7% in 2027.