Negotiated cash fed cattle trade ended up last week $1 higher on a live basis at $125/cwt. in the Southern Plains and $1.00-$1.50 higher in the north at $124.50-$126.00. Dressed sales were up to $3 higher at $200.
Cattle futures trickled higher Monday, after narrow mixed trade early, supported by last week’s cash trade and stronger wholesale beef values.
Live Cattle futures closed 42¢ higher.
Except for 50¢ lower in the back contract, Feeder Cattle futures closed an average of 64¢ higher.
Corn futures closed mostly fractionally lower to 1¢ lower.
Soybean futures closed 6¢ to 9¢ lower.
Wholesale beef values were higher to sharply higher on moderate to good demand and light offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.53 higher Monday afternoon at $216.88/cwt. Select was $2.69 higher at $213.86.