Cattle futures reversed Monday on likely profit taking from last week’s heady gains as traders await this week’s cash fed cattle direction and eye seasonally slumping wholesale beef values.
Toward the close, Live cattle futures were an average of $1.92 lower. Feeder Cattle futures were an average of $4.82 lower.
Negotiated cash fed cattle trade was inactive on moderate demand in all major cattle feeding regions through Monday afternoon, according to the Agricultural Marketing Service.
Last week, FOB live prices were $4-$6 higher in the Texas Panhandle at $228-$230/cwt., mostly $5 higher in Kansas at mainly $230, $9-$10 higher in Nebraska at $240-$241 and mostly $6-$10 higher in the western Corn Belt at mainly $240. Dressed delivered prices were $12 higher at $380.
Last week’s weighted average five-area direct FOB live fed steer price was $7.78 higher at $237.21/cwt. The weighted average dressed delivered fed steer price was $9.91 higher at $379.21.
Choice boxed beef cutout value was $1.57 lower Monday afternoon at $377.07. Select was $1.91 lower at $364.58.
Grain and Soybean futures were mixed Monday.
Toward the close and through Mar ‘26 contracts, Corn futures were 4¢ to 9¢ higher. Kansas City Wheat futures were 2¢ lower to 2¢ higher. Soybean futures were mostly unchanged to 7¢ lower.
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