Cattle futures were mainly higher Friday, helped along by last week’s stronger negotiated cash fed cattle prices.
Toward the close, Live Cattle futures an average of $1.23 higher. Feeder Cattle futures were an average of $1.09 higher, except for an average of 98¢ lower in the front two contracts.
Negotiated cash fed cattle trade was inactive on light demand through Monday afternoon, according to the agricultural Marketing Service.
FOB live prices last week were mostly $235/cwt., which was $2 higher in Kansas, $2-$3 higher in Nebraska and mostly steady to $3 higher in the western Corn Belt. Dressed delivered prices were mostly $370, which was $5-$10 higher in Nebraska and mostly $10 higher in the western Corn Belt.
Last week’s five-area direct weighted average FOB live fed steer price was $2.15 higher at $235.21. The weekly weighted average dressed delivered fed steer price was $8.50 higher at $371.11.
Choice boxed beef cutout value was $7.06 higher Monday afternoon at $371.42/cwt. Select was $1.53 lower at $350.84.
Grain and Soybean futures were mixed again on Monday with likely continued positioning ahead of Wednesday’s World Agricultural Supply and Demand Estimates.
Toward the close and through the front four contracts, Corn futures were unchanged to fractionally lower. Soybean futures were 3¢ to 4¢ higher. Kansas City HRW Wheat were 1¢ lower to 1¢ higher.
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