Negotiated cash fed cattle traded ended up mostly $1 higher on a live basis last week at $124/cwt. in Nebraska and the Southern Plains; $1-$2 higher in the western Corn Belt at $122-$124. Dressed trade was $2-$3 higher at $197.
Early support in grain futures helped pressure Feeder Cattle, while stronger cash prices and the weather helped cap losses in Live Cattle.
Except for an average of 37¢ higher in the front two contracts, Live Cattle futures closed an average of 22¢ lower.
Except for $1.27 lower in spot Jan, Feeder Cattle futures closed an average of 59¢ lower.
Corn futures closed mostly fractionally higher.
Soybean futures closed mostly 5¢ to 6¢ lower (8¢ lower in spot Jan).
Wholesale beef values were weak to lower on light to moderate demand and heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 44¢ lower Monday afternoon at $212.02/cwt. Select was 81¢ lower at $205.46.