Neutral Cattle on Feed numbers and neutral to softer overall inventory numbers in the semiannual Cattle report helped Cattle futures rally to start the week. Lower grain prices also helped.
Live Cattle futures closed an average of 54¢ higher.
Feeder Cattle futures closed an average of $2.20 higher.
Grain futures fell, presumably on expectations of more favorable growing weather.
Corn futures closed 7¢ to 9¢ lower through Jul ’20 and then mostly fractionally lower to 1¢ lower.
Soybean futures closed mostly 10¢ to 13¢ lower.
Wholesale beef values were steady on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 10¢ lower Monday afternoon at $213.32/cwt. Select was 8¢ higher at $189.59.