Recently firm wholesale beef values, near-steady cash prices and continued performance-dampening weather helped Cattle futures gain some ground Monday, led by Feeder Cattle.
Live Cattle futures closed an average of 33¢ higher.
After 10¢ higher in spot Jan, Feeder Cattle futures closed an average of 70¢ higher.
Corn futures closed unchanged to fractionally mixed.
Soybean futures closed 1¢ to 2¢ lower.
Wholesale beef values were firm on Choice and weak on Select with light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 39¢ higher Monday afternoon at $217.40/cwt. Select was 42¢ lower at $211.61.