Negotiated cash fed cattle trade was slow on light demand in Nebraska through Monday afternoon, according to the Agricultural Marketing Service. Early live sales traded steady to $2 higher than last week at $125/cwt. Dressed sales there last week were at $196-$202/cwt.
Trading in the Western Corn Belt was mostly inactive on very light demand. Last week, live sales traded from $124-$126/cwt. and dressed sales were at $196-$202/cwt.
In all other major trading regions, trading was at a standstill. Last week in the Texas Panhandle, live sales traded at $120/cwt. In Kansas, live sales were at $119-$120/cwt.
Live Cattle futures gained Monday, supported by higher prices forecast in the latest World Agricultural Supply and Demand Estimates (see below).
Live Cattle futures closed an average of 52¢ higher.Feeder Cattle futures faltered with another session of higher Corn futures.
Feeder Cattle futures closed an average of 70¢ lower.
Choice boxed beef cutout value was $3.59 lower Monday afternoon at $275.00/cwt. Select was $1.36 higher at $258.77.
Grain futures closed higher, supported by the WASDE.
Corn futures closed 15¢ to 16¢ higher through new-crop contracts, and then mostly 11¢ to 12¢ higher.
Soybean futures closed mostly 18¢ to 20¢ higher.