Negotiated cash fed cattle prices ended last week $1 lower on a live basis at $121/cwt. in the Southern Plains and Nebraska; $121-$122 in the western Corn Belt. Dressed trade was $1-$2 lower at mostly $193.
Softer cash prices, declining wholesale beef values and queasiness over demand from a potentially slowing global economy weighed on Cattle futures to start the week.
Live Cattle futures closed an average of 76¢ lower.
Except for 5¢ and 2¢ higher in the front two contracts, Feeder Cattle futures closed an average of 97¢ lower (12¢ to $1.22 lower).
Wholesale beef values were lower on Choice and steady on Select with light to moderate demand and moderate to heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.21 lower Monday afternoon at $208.91/cwt. Select was 19¢ lower at $203.70.
Corn futures closed narrowly mixed but mostly 1¢ lower.
Soybean futures closed mostly unchanged to fractionally higher.