Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Live prices last week live prices were at $138-$140/cwt. in the Southern Plains and Colorado; $138-$140 in Nebraska and the western Corn Belt. Dressed prices were $220 in Nebraska and $218-$220 in the western Corn Belt.
Choice boxed beef cutout value was $1.32 lower Monday afternoon at $263.22/cwt., but Select was $1.40 higher at $253.64
Long-term optimism helped boost Live Cattle futures an average of 46¢ higher on Monday.
Feeder Cattle futures closed an average of 84¢ higher (20¢ higher at the back to $1.37 higher). They received a boost from softer Corn futures, which were down on a drop in Soybean futures based on bullish South American production weather.
Corn futures closed 4¢ to 8¢ lower.
Soybean futures closed 18¢ to 23¢ lower through Nov ’22 and then mostly 12¢ to 15¢ lower.