Cattle futures softened some on Monday, likely with some profit taking from last week’s strong performance.
Live Cattle futures closed an average of 39¢ lower (25¢ lower to $1.00 lower in spot Aug).
Feeder Cattle futures closed an average of $1.31 lower (32¢ to $2.30 lower).
Wholesale beef values edged higher Monday after dropping to the lowest levels last week since December of 2017.
Choice boxed beef cutout value was $1.27 higher Monday afternoon at $201.74/cwt. Select was $1.28 higher at $191.59.
Corn futures closed 2¢ to 4¢ lower through Jly ’21 and then fractionally lower to 1¢ lower.
Soybean futures closed mostly 3¢ to 5¢ higher.