Negotiated cash fed cattle trade was mostly inactive on very light demand in the western Corn Belt through Monday afternoon, according to the Agricultural Marketing Service. Elsewhere, trade was at a standstill.
Regionally, prices last week were mainly $1-$2 higher on a live basis at $114/cwt. in the Southern Plains, mostly $114 in Nebraska and at $112-$114 in the western Corn Belt. Dressed trade was steady to $2 higher at $178-$180.
The five-area direct steer price was $113.64/cwt. last week on a live basis, which was $1.00 more than the previous week. The average steer price in the beef of $179.26 was $1.70 higher.
Live Cattle futures mostly edged higher Monday, helped along by the higher cash prices and prospects of higher money this week as the coldest temperatures of the year erode cattle performance.
Live Cattle futures closed an average of 18¢ higher, except for 15¢ lower and 10¢ lower at either end of the board.
Feeder Cattle futures closed lower beneath the weight of grain futures, which likely got a boost from positioning ahead of Tuesday’s World Agricultural Supply and Demand Estimates.
Feeder Cattle futures closed an average of $1.29 lower, from 72¢ lower toward the front to $2.15 lower at the back.
Choice boxed beef cutout value was $1.62 higher Monday afternoon at $236.20/cwt. Select was 18¢ lower at $220.61.
Corn futures closed 11¢ to 15¢ higher through the front three contracts and then mostly 1¢ to 6¢ higher.
Soybean futures closed mostly 14¢ to 21¢ higher.