Negotiated cash fed cattle trade ended up steady to $1 higher on a live basis last week at $112/cwt. in the Southern Plains, mostly $115 in Nebraska and $115-$116 in the western Corn Belt. Dressed sales were steady at $182-$185.
Week to week on Monday, the 5-area direct average price for fed steers was $113.68/cwt., 66¢ higher than the previous week.
Softer Lean Hog futures pressured Live Cattle after early-session support Monday. Higher grain futures weighed on Feeder Cattle.
Other than unchanged at either end of the board, Live Cattle futures closed an average of 44¢ lower.
Feeder Cattle futures closed an average of 99¢ lower, across a range of 70¢ lower at the back to $1.42 lower in spot Aug.
Corn futures closed mostly 1¢ to 2¢ higher.
Soybean futures closed mostly 3¢ to 5¢ higher.
Wholesale beef values were higher on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.09 higher Monday afternoon at $213.26/cwt. Select was $1.42 higher at $189.76.