As logic suggested, Cattle futures lost ground Monday, between likely technical correction, the weekend announcement from APHIS that Mexican cattle imports to the U.S. will resume this week and tariffs levied on Canada, Mexico and China, though Mexican tariffs are now postponed for a month.
Live Cattle futures closed an average of $2.04 lower. Feeder Cattle futures closed an average of $4.84 lower.
Negotiated cash fed cattle trade was inactive on very light demand in all major cattle feeding regions through Monday afternoon, with too few transactions to trend, according to the Agricultural Marketing Service.
Last week, FOB live prices were $6-$7 higher in the Southern Plains at $208/cwt. and steady to $2 lower in in the North at $210. Dressed delivered prices were steady to $2 higher at $330.
The weighted average five-area direct FOB live steer price was 38¢ higher at $209.57/cwt. The weighted average dressed delivered price was 45¢ lower at $329.07.
Choice boxed beef cutout value was $4.31 higher Monday afternoon at $331.99/cwt. Select was $2.77 higher at $319.84.
Grain and Soybean futures gained Monday when announcement came that new Mexican tariffs were postponed for a month and perhaps some betting on a deal getting done with China.
Corn futures closed 5¢ to 6¢ higher through Jly ‘26 and then mostly 2¢ to 3¢ higher.
Kansas City Wheat futures closed 5¢ to 6¢ higher.
Soybean futures closed 11¢ to 16¢ higher through Mar ‘26 and then 7¢ to 8¢ higher.
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