Early two-sided trading in Cattle futures gave way to continued pressure from last week, tied to volatility in Lean Hog futures, technicals and growing pessimism about increasing fed cattle supplies during a time that domestic demand appears static, while international demand is a bit softer year over year.
Except for 22¢ higher in spot Apr, Live Cattle futures closed an average of 39¢ lower.
Except for 55¢ higher in spot May, Feeder Cattle futures closed an average of $1.48 lower.
Wholesale beef values were steady on Choice and lower on Select with light to moderate demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 15¢ higher Monday afternoon at $233.14/cwt. Select was $1.69 lower at $217.72.
Corn futures closed mostly fractionally higher.
Soybean futures closed 6¢ to 7¢ lower.