Cattle futures moved higher Monday, although many thought traders might see bearishness in more placements than expected in Friday’s Cattle on Feed report.
Heading into the close, Live Cattle futures were an average of 89¢ higher. Feeder Cattle futures were an average of $2.59 higher.
Negotiated cash fed cattle trade was at a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 lower in the Texas Panhandle at $183/cwt., $1-$2 lower in Kansas at $183-$184, $6 lower in Nebraska at $184 and $3 lower in the western Corn Belt at $184-$188. Dressed delivered prices were $5-$6 lower in Nebraska at $293-$295 and $3 lower in the western Corn belt at $293-$295.
The weighted average five-area direct FOB live steer price last week was $3.60 lower at $185.54/cwt. The weighted average dressed delivered steer price was $4.11 lower at $293.93.
Choice boxed beef cutout value was $1.44 lower Monday afternoon, at $315.90/cwt. Select was 27¢ lower at $300.19.
Grain futures were mixed Monday. Toward the close and through Jly ’25 contracts, Corn futures were 4¢ to 5¢ lower. Kansas City Wheat futures were fractionally lower to 3¢ higher. Soybean futures were 4¢ to 8¢ higher.
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