Negotiated cash fed cattle trade was a standstill in the five-area marketing region through Monday afternoon, according to the Agricultural Marketing Service. Live sales last week were at $108/cwt. in the Southern Plains, $106-$107 in Nebraska and at $104-$105 in the western Corn Belt. Dressed trade was at mostly $168.
The five-area direct weighted average steer price last week was $106.75 on a live basis, which was $3 less than the previous week. The average steer price in the beef of $167.77 was $4.52 lower.
Cattle futures closed narrowly mixed Monday, amid sluggish activity and awaiting cash direction, especially given last week’s disappointing trade in terms of both price and volume. However, they retained the lion’s share of gains made in the previous session.
Live Cattle futures closed narrowly mixed, from an average of 17¢ lower to unchanged to an average of 17¢ higher.
Feeder Cattle futures closed narrowly mixed, from an average of 17¢ lower to an average of 19¢ higher.
Choice boxed beef cutout value was $4.19 lower Monday at $209.69/cwt. Select was $3.41 lower at $192.30.
Corn futures closed mostly unchanged to fractionally mixed, except for 5¢ lower in spot Dec.
Soybean futures closed mostly 4¢ to 9¢ higher.