Negotiated cash fed cattle trade was at a standstill in the Southern Plains and Nebraska through Monday afternoon, according to the Agricultural Marketing Service. It was mostly inactive on light trade in the Western Corn Belt.
Last week in the Texas Panhandle, live sales traded from $121 to $122. In Kansas, live sales traded at $121. In Nebraska live sales traded at $125 and dressed at $198. In the Western Corn Belt, live sales were at $125-$126 and dressed at $198.
Steep declines in Lean Hog futures pressured Cattle futures Monday despite last week’s stronger cash trade and surging wholesale beef prices. By the end of the session, though, they were back to about even.
Live Cattle futures closed an average of 27¢ lower (15¢ to 45¢), except for unchanged in spot Aug.
Feeder Cattle futures closed mixed, down an average of 19¢, except for 28¢ higher in Apr.
Choice boxed beef cutout value was $3.54 higher Monday afternoon at $299.80/cwt. Select was $3.72 higher at $280.81/cwt.
Crop progress and an improved weather outlook pressured Corn futures Monday.
Corn futures closed mostly 2¢ to 3¢ lower.
Soybean futures closed mostly 4¢ to 7¢ lower, except for 11¢ higher in Spot Aug.