Futures and equity markets were closed Monday in observance of President’s Day.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $2 lower in the Southern Plains at $180/cwt., unevenly steady in Nebraska at $181 and steady to $2 lower in the western Corn Belt at $180. Dressed delivered prices were unevenly steady in Nebraska at mostly $287 and steady in the western Corn Belt at $285.
The five-area direct weighted average FOB live fed steer price last week was 80¢ lower at $180.35. The weighted average dressed delivered fed steer price was 76¢ lower at $286.61.
Choice boxed beef cutout value was 89¢ higher Monday afternoon at $297.09/cwt. Select was 74¢ higher at $287.40/cwt
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