Negotiated cash fed cattle trade was at a standstill in the five-area feeding region through Monday afternoon, according to the Agricultural Marketing Service. Live sales last week were at $108/cwt. in the Southern Plains and at mostly $105 in Nebraska and the western Corn Belt. Dressed trade was at mostly $165.
Cattle futures closed mainly higher Monday, supported by the nascent reversal in wholesale beef values and Friday’s friendly Cattle on Feed report.
Live Cattle futures closed an average of 28¢ higher except for 22¢ lower in near Feb.
Feeder Cattle futures closed an average of 73¢ higher from 17¢ higher in spot Jan to $1.02 higher at the back.
Wholesale beef prices continued to firm. Choice boxed beef cutout value was $2.29 higher at $210.92/cwt. Monday afternoon. Select was $2.99 higher at $197.26.
Corn futures closed 1¢ to 2¢ higher through Jly ‘22 and then mostly unchanged to fractionally lower.
Soybean futures closed 17¢ to 23¢ higher through Aug ’21, and then mostly 7¢ to 10¢ higher.