Strong cash demand for calves and feeder cattle, with snugger supplies looming, helped boost
Feeder Cattle futures an average of $2.09 higher Monday ($1.60 higher toward the back to $3.15 higher in spot Aug).
Live Cattle futures closed an average of $1.26 higher (82¢ higher toward the back to $2.20 higher in spot Aug), helped along by firm wholesale beef values.
Choice Boxed beef cutout value 25¢ higher through Monday afternoon at $268.14/cwt. Select was $1.15 higher at $243.00.
Negotiated cash fed cattle trade ranged between mostly inactive on light demand to a standstill through Monday afternoon, according to the Agricultural Marketing Service.
Last week, live prices were steady to $1 lower in the Southern Plains at $137/cwt., $1-$2 lower in Nebraska at $144-$149 and steady in the western Corn Belt at $147-$150. Dressed prices were $2 lower at $232.
The average five-area direct fed steer price last week was $144.35/cwt. on a live basis, which was $1.81 less than the previous week. The average price in the beef was $1.74 less at $232.22.
Corn futures closed 1¢ to 5¢ higher through new-crop contracts on Monday and then mostly 6¢ to 8¢ lower.
Soybean futures closed mostly 7¢ to 8¢ higher.
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