Negotiated cash fed cattle trade was mostly inactive on light demand in the western Corn Belt through Monday afternoon. Elsewhere, it was at a standstill, according to the Agricultural Marketing Service.
Last week, live prices were at $110-$112/cwt. in the Texas Panhandle, $110 in Kansas and Nebraska and at $109-$110 in the western Corn Belt. Dressed trade was at $172.
The average five-area direct steer price last week was $109.75 on a live basis, which was 52¢ less than the previous week. The average steer price in the beef was $172.29, which was $1.08 lower.
Cattle futures closed lower on Monday, pressured by fast-falling wholesale beef values and sluggish trade.
Live Cattle futures closed an average of 93¢ lower except for an average of 12¢ higher in the back two contracts.
Feeder Cattle futures closed an average of $1.33 lower.
Choice boxed beef cutout value was $4.22 lower Monday afternoon at $230.80/cwt. Select was $8.03 lower at $209.48.
Corn futures closed 1¢ to 3¢ higher.
Soybean futures closed mostly 5¢ to 7¢ higher except for fractionally lower to 4¢ lower in the front three contracts.