Cattle futures closed lower Monday, pressured by the sinking equities and perhaps added pressure from last week’s Cattle on Feed report which indicated more placements than expected last month.
Toward the close, Live Cattle futures were an average of 34¢ lower, except for 20¢ higher in the back contract. Feeder Cattle futures were an average of $1.78 lower.
Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
For the week, FOB live prices were $4-$6 higher in the Texas Panhandle at $208-$210/cwt., $6 higher in Kansas at $210, $4-$6 higher in Nebraska at $212-$214 and $4 higher in the western Corn Belt at $212. Dressed delivered prices were $5-$12 higher in Nebraska at $332-$340 and $7-$8 higher in the western Corn Belt at $335.
The five-area direct weighted average FOB live fed steer price last week was $3.93 higher at $211.63/cwt. The weighted average dressed delivered fed steer price was $9.10 higher at $336.81.
Choice boxed beef cutout value was $2.00 higher Monday afternoon at $333.52/cwt. Select was $3.22 higher at $318.77.
Grain and Soybean futures were lower Monday, with little direction other than turbulence in the outside markets.
Toward the close and through Sep ’25 contracts, Corn futures were unchanged to 2¢ lower. Kansas City Wheat futures were 5¢ lower. Soybean futures were 6¢ to 8¢ lower.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More