Negotiated cash fed cattle trade was mostly inactive on very light demand in the western Corn Belt through Monday afternoon. Elsewhere, it was at a standstill, according to the Agricultural Marketing Service.
Last week, live trade was generally steady: $120/cwt. in the Southern Plains; $123-$125 in Nebraska; $125 in the western Corn Belt. Dressed trade was steady in Nebraska at $196-$202 and steady to $5 lower in the western Corn Belt at $196-$197.
Cattle futures faded early pressure from outside markets to close mostly higher.
Feeder Cattle futures closed an average of 52¢ higher, except for 5¢ lower in Apr.
Live Cattle futures closed narrowly mixed, from and average of 46¢ lower to an average of 16¢ higher.
Choice boxed beef cutout value was $1.45 lower Monday afternoon at $266.49/cwt. Select was $2.30 lower at $249.49/cwt.
Grain futures closed mixed Monday with traders eyeing sharply lower outside markets and weather.
Corn futures closed narrowly mixed, mostly 1¢ lower to fractionally higher.
Soybean futures closed 14¢ to 26¢ lower through Sep. ’22 and then mostly 9¢ lower.