Negotiated cash fed cattle prices were steady in the Southern Plains last week at $124/cwt. In late-week trade, live prices were steady to $2 higher in the north at $126-$128 in Nebraska, $127.00-$127.50 in Colorado and at $127-$130 in the western Corn Belt. Dressed trade was steady to unevenly steady at $204-$206.
Sluggish, directionless trade had Cattle futures hovering in mixed action early in Monday’s session. They ended the day grinding a touch higher.
Live Cattle futures closed an average of 18¢ higher, except for 25¢ lower in spot Apr and unchanged in Dec.
Feeder Cattle futures closed an average of 45¢ higher.
Corn futures closed mostly fractionally higher to 1¢ higher.
Soybean futures closed 1¢ to 3¢ higher.
Wholesale beef values were sharply higher on Choice and steady on Select with moderate to good demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $2.23 higher Monday afternoon at $230.98/cwt., the highest since last May. Select was 20¢ higher at $221.22.