Cattle futures started the week with modest gains, amid sluggish trade and supported by outside markets, as well as Friday’s bullish Cattle on Feed report.
Except for 17¢ lower in spot Apr, Live Cattle futures closed an average of $1.01 higher.
Feeder Cattle futures closed an average of 67¢ higher.
Wholesale beef values continued to rocket higher with the bottleneck in packer capacity disrupting the supply chain.
Choice boxed beef cutout value was $18.47 higher Monday afternoon at a record high of $311.84/cwt. Select was $19.76 higher at $298.78.
Corn futures closed 6¢ to 10¢ lower through Mar ’21 and then mostly 3¢ to 5¢ lower.
Soybean futures closed mostly 1¢ to 3¢ lower.