Negotiated cash fed cattle trade ranged from a standstill to mostly inactive on very light demand through Monday afternoon, according to the Agricultural Marketing Service.
Prices last week were $142/cwt. on a live basis in Nebraska and the Southern Plains and $142-$144 in the western Corn Belt. Dressed prices were at $226.
The five-area average weighted direct fed steer price last week was $1.88 higher at $142.36/cwt. The average steer price in the beef was $2.00 higher at $226.04.
Equity and futures markets were closed Monday in observance of President’s Day.
As mentioned in the previous day’s Cattle Current, Live Cattle futures were an average of 75¢ higher (37¢ to $1.37 higher) week to week on Friday, except for 30¢ lower in near Apr.
Feeder Cattle futures closed an average of $1.24 higher (15¢ to $1.80 higher) week to week on Friday except for 80¢ lower in spot Mar.
Choice boxed beef cutout value was $1.76 lower Monday afternoon at $264.09/cwt. Select was 79¢ lower at $261.84.