Cattle futures closed higher Monday, buoyed by the recent Cattle on Feed report and a sharp decline in Grain futures.
Toward the close on Monday, Live Cattle futures were an average of $1.31 higher. Feeder Cattle futures were an average of $4.10 higher.
Negotiated cash fed cattle trade was at a standstill in all major cattle feeding regions through Monday, according to the Agricultural Marketing Service.
Last week, FOB live prices were $4 lower in the Southern Plains at $199/cwt., $3-$4 lower in Nebraska at $199-$200 and $2-$4 lower in the western Corn Belt at $199-$201. Dressed delivered prices were $5-$6 lower at $315.
The five-area direct weighted average FOB live steer price last week was $3.27 lower at $199.64/cwt. The weighted average dressed delivered steer price was $5.40 lower at $315.12.
Choice boxed beef cutout value was $2.96 higher Monday afternoon at $313.73/cwt. Select was $1.41 higher at $303.97.
Grain and Soybean futures were lower Monday with pressure including tariff concerns, early month-end position squaring and perhaps wariness about any initial acreage projections USDA shares during this week’s Agricultural Outlook Forum.
Toward the close and through Sep ’25 contracts, Corn futures were 5¢ to 8¢ lower. Kansas City Wheat futures were 10¢ to 11¢ lower. Soybean futures were 8¢ to 10¢ lower.
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