As suspected, Cattle futures dove on Monday, squeezed hard by reaction to Friday’s Cattle on Feed and Cattle inventory reports.
Live Cattle futures closed an average of $2.21 lower ($1.35 to $3.00 lower).
Feeder Cattle futures closed an average of $4.09 lower ($3.37 to $4.50 lower).
Choice boxed beef cutout value was 55¢ higher Monday afternoon at $207.46/cwt. Select was $3.09 higher at $197.89.