Negotiated cash fed cattle trade ranged from a standstill to mostly inactive on very light demand through Monday afternoon, according to the Agricultural Marketing Service.
In the Western Corn Belt last week, live sales traded from $120-$124/cwt. and dressed sales from $195-$202.
Live trade in the Southern Plains last week was at $119.
In Nebraska last week, live sales were at $120-$123 and dressed at $195.
Cattle futures gained traction Monday, buoyed by last Friday’s friendly USDA reports (see below).
Feeder Cattle futures closed an average of $1.44 higher.
Live Cattle futures closed an average of 97¢ higher.
Choice boxed beef cutout value was $1.30 higher Monday afternoon at $267.93/cwt. Select was 98¢ higher at $250.92/cwt.
Grain futures edged higher Monday on a hotter, drier near-term weather outlook.
Corn futures closed up 2¢ to 3¢ through new-crop contracts, then mostly 6¢ to 7¢ higher.
Soybean futures closed up mostly 8¢ to 9¢, except for mostly 6¢ higher in the front four contracts.